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rliccini
New Member

Why is my 2015 Turbotax Home & Business allowing me to deduct all prior SCH D carryover against my taxes due? Never happened before!

 
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Critter
Level 15

Why is my 2015 Turbotax Home & Business allowing me to deduct all prior SCH D carryover against my taxes due? Never happened before!

Prior year Capital losses are netted against current year cap  gains  and then you are limited to only $3000 of loss on top of that ... look at the Sch D carryover worksheet and the form 1040 line 13. 

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2 Replies
Critter
Level 15

Why is my 2015 Turbotax Home & Business allowing me to deduct all prior SCH D carryover against my taxes due? Never happened before!

Prior year Capital losses are netted against current year cap  gains  and then you are limited to only $3000 of loss on top of that ... look at the Sch D carryover worksheet and the form 1040 line 13. 

rliccini
New Member

Why is my 2015 Turbotax Home & Business allowing me to deduct all prior SCH D carryover against my taxes due? Never happened before!

Turbo-Tax should not pull the Cap-gains carryover into the Home& business summary! There should be a separate carry-over for one's business; or at least a warning Re the difference.

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