topic Re: SmartCheck Error: Form 8615 in Get your taxes done using TurboTax

SmartCheck Error: Form 8615

NomeMan — Mon, 13 Mar 2023 19:51:58 GMT

I am trying to file my children's taxes and smart check gives me the following error for both:

"Form 8615: ParentsNetLTGain shouldn't be less than or equal to zero."

Our (parent's) net capital gain in 2022 was a significant loss. I filled it out as directed by the program and now it is saying that cannot be. What am I supposed to do here? There was no "gain" for us last year.

Re: SmartCheck Error: Form 8615

PattiF — Wed, 15 Mar 2023 00:58:33 GMT

You can fix the problem by redoing the interview for "Child's Income (Under Age 24)" in the Less Common Income Section

On the page "Parents' Capital Gains", when entering a value for Schedule D, leave the space empty
Click on the Learn More link where there is an important note that If Schedule D, Line 15 is a loss, do not enter an amount on this line and leave the line BLANK (no zero).