2022 Schedule D - "Capital Loss Carryover Worksheet - Lines 6 and 14" imports incorrect 2021 #s for AMT Columns

[David55NN]

Hello, would greatly appreciate your assistance with an apparent bug in the AMT column/calculations for the Schedule D, "Capital Loss Carryover Worksheet - Lines 6 and 14" (listed in Forms View as "Cap Ls Carryovr") of the Desktop Version of 2022 Turbotax Premier (Form 1040).

Line A and Line 5 of this worksheet states it is supposed to pull "Net short-term capital gain or (loss). (2021 Schedule D, line 7)".

However, the AMT column/calculations for Line A and Line 5 instead are importing  2021 Schedule D, line 6 (instead of line 7) . Line 6 is the *gross* capital loss carryover. Line 7 is the *net* carryover.

This results in materially different #s flowing through the AMT calculations.

The non-AMT column/calculations import correctly.

Could someone kindly confirm that this is an issue, and that users should be hardcoding the 2021 line 7 # into the worksheet Line A and Line 5, until a fix is provided?

Thanks again for your help.

[David55NN]

Hello, would someone confirm this post has been read and is being looked at? Thank you --

[AnnetteB6]

In order to take a deeper look at what is happening with the carryover amounts from 2021 to 2022, it would be useful to have a diagnostic copy of your 2021 and 2022 tax files.  

The diagnostic files will not contain personally identifiable information, only numbers related to your tax forms.  If you would be willing to provide this, follow the instructions below and post the token number and the tax year for that token in a follow-up thread.

The instructions for either 2021 or 2022 TurboTax will be the same.

If you are using a CD/downloaded version of TurboTax, use these steps:

• Select Online at the top of the screen.
• Select Send Tax File to Agent.
• Click OK.
• Post the token number here.

@David55NN 

[David55NN]

Annette, thank you very much. The 2022 Return is 1081197 and the 2021 Return is 1081200. Both Turbotax Premier versions are fully up to date as of today. In Form View, there is a "Schedule D AMT" worksheet in the 2021 return where you'll see the 2022 return pulls Line 6 (gross) instead of Line 7 (net). Really appreciate your help!

[AnnetteB6]

Thank you for providing the requested token numbers.  This is a confirmed experience that is being addressed by the development team.  

Take a look at the following TurboTax help article and click the link to add your email address.  You will then be notified with updates.

Why isn't my Capital Loss AMT carrying over?

@David55NN 

[David55NN]

Thank you for finding this and replying. I've done as you've suggested and await the fix.

[David55NN]

Annette, update that the other thread referenced above is marked "resolved" as of today, but the issue described above remains after applying the most recent updates to both the 2022 and 2021 Turbotax Premier programs.

The issue is that it's pulling in the wrong AMT numbers from the 2021 return (wrong lines), not that it isn't pulling in any numbers (which must be what the other thread was dealing with).

So, it seems to be a different problem. Would you be kind enough to confirm this? @AnnetteB6 

[MintyMint87]

I am also having the same issue.  Can I please get on the email list for the update as well?  The link provided did not work.

[David55NN]

Hi @MintyMint87 , I also saw that the link above expired after emails were sent saying that the issue was resolved. Sounds like we're both having an ongoing separate issue even after the 3/01/23 update, so don't worry about that link as it wouldn't help anyways. We'll wait for Annette to reply.

[Lukas13]

I thought I was going crazy trying to figure this out. I'm having a very similar problem if not the same thing. For my Federal and State tax returns, I'm getting a 6521 AMT error code. 

[Lukas13]

I fixed my problem. I had a $1,511 short term-Capital loss carryover on my 2021 Tax return.. Buuut, Turbo tax put that as 0$ in the AMT short term capital loss section in the Federal tab. I changed it to match my original Capital loss and it got accepted. Hope this helps somebody out there. 

[David55NN]

Thanks, Lukas. Glad it worked for you. Mine is importing the incorrect line and because there could be other places where this is flowing through (both on the forms we can view and others we can't), I'm going to wait for now until a fix is tested and provided. Appreciate you replying because it lets the Turbotax Pros know that there are still issues after the 'fix'.

[AnnetteB6 · Accepted solution]

After seeing that the development team has reported that this issue has been fixed and your notes about still seeing the issue, I re-tested the token files that you provided.  First I opened the 2021 return and examined the Capital Loss Carryforward Worksheet.  

Then, instead of opening the 2022 return using the token number provided, I imported the 2021 tax file into 2022.  (Importing instead of opening the file that has already been started, is essentially starting the 2022 return from scratch with the information in the 2021 return.)  Examining the Capital Loss Carryover Worksheet after importing showed that all amounts from the 2021 Capital Loss Carryforward Worksheet matched as expected.  

If you do not want to restart your 2022 return to get the amounts to match up as they should, you can make the adjustments in Forms Mode to the Capital Loss Information Smart Worksheet in the top section of the Capital Loss Carryover Worksheet showing the information brought into 2022 from 2021.  The fields in the Smart Worksheet are easily edited and then transfer to the lower section of the form.

@David55NN 

[David55NN]

@AnnetteB6Annette, thanks so much for figuring this out and replying over the weekend. For others following this thread, I can confirm that your abovementioned solutions work, and that starting a new 2022 return will now import the correct 2021 AMT #s following the most recent software update (3/01/23). Thanks again, and I'll mark this thread as solved.

[MintyMint87]

Thanks so much.  I also started over and this seemed to resolved the issue as well.