I need to override the $3,000 'Capital Loss Carryover' that TT is automatically applying to my Schedule D and consequently 1040.
I do not need to use any portion of my carryover, as my ordinary income is less than Standard Deduction, and dividends/capital-gains are within the 0% bracket - so application of any Capital Loss Carryover (CLC) would be wasted.
According to other posts that I've seen, it looks as if my 'Taxable Amount' WAS ZERO, then TT knows not to apply any CLC. However, my Taxable Amount is above zero, but because only Capital Gains exceed my Standard Deduction, it's applying $3,000 of my CLC, which does me no good.
I've seen in argument in other postings that one is required to take $3,000 EACH year (for Married Filing Jointly, $1500 for Single) - kind of Use-it-or-Lose-it - that one is not allowed to skip years. This contradicts IRS information that one CAN apply the CLC "UP TO $3,000" per year, but the losses can otherwise carry-forward indefinitely.
So, any guidance on how I can prevent TT from applying CLC would be appreciated. If necessary, I'm willing, if necessary, to manually maintain my own "Schedule D - Capital Loss Carryover Worksheet" and "Capital Loss Carryforward Worksheet" if necessary.
