2023 Capital Loss Carryover Form

[ciocona]

When I select the Capital Loss Carryover form in TurboTax Online, then say Yes to the question, I immediately get an error, "Something Went Wrong" and the symbol in the photo. Support told me the form was not available until today; however, it still is throwing this error. This also happens when I tried to upload a 1099-B pdf.

[Bsch4477]

Try again next week. Many forms are still being updated. The IRS won’t process returns until January 29. 

[ciocona]

I'm still getting the same error today.

[Bsch4477]

I will try to get someone to help you. 

[MonikaK1]

In order for us to help troubleshoot this issue, you can send us a “diagnostic” file that has your “numbers” but not your personal information.  If you would like to do this, here are the instructions for TurboTax Online users: 

Go to the black panel on the left side of your program and select Tax Tools. 

1. Then select Tools below Tax Tools. 
2. A window will pop up which says Tools Center.  
3. On this screen, select Share my file with Agent. 
4. You will see a message explaining what the diagnostic copy is.  Click okay through this screen and then you will get a Token number. 
5. Reply to this thread with your Token number. This will allow us to open a copy of your return without seeing any personal information.  

We will then be able to see exactly what you are seeing and we can determine what exactly is going on in your return and provide you with a resolution.

If you are using TurboTax Desktop please comment back and I will give you those instructions.

[ciocona]

Token Number 1169470

[MonikaK1]

Thank you. We will review the file and respond in this thread.

[MonikaK1]

A review of the diagnostic file reveals that no income was input for 2023, just estimated payments. If there is no income at all for the year, the capital loss carryover will flow through to the next year in which income is reported, and the carryover calculation for 2023 is inapplicable. You are only filing to get estimated payments back.

If you do have income to report, such as a 1099-R, but haven't input it yet, input the income and then go back to the capital loss carryover.

See this TurboTax tips article for more information about capital loss carryovers.

See this thread for an informative discussion of this issue.

[ciocona]

I have already entered income (W2, 1099-R, 1099-DIV, 1099-INT). I don't know why you did not see that on the file. The only income that remains to be entered is my 1099-B, and when I attempt to enter it, I get the same error message as I do for the loss carryover (screen shot in original post). 

Your answer that I have no income entered is incorrect. Please look again at the file.

[MonikaK1]

In order to review a diagnostic file, we have to pull up the return in the Desktop version of TurboTax. It shows a lot of information having been transferred to the return from 2022, and information entries made by the user, but no dollar amounts entered for 2023 except for the estimated payments. 

You might check to be sure you didn't open two separate Online returns for 2023. If you did, and sent us one that was incomplete, that could explain why we aren't seeing all of the entries.

Thank you for your reply. We are looking into the matter further and will reply again in this thread.

[ciocona]

I'm at a loss as to how to get you a file with the income when I am seeing the income myself and following the steps you provided to get the token and send to you. Given that I have had phone calls about this several weeks ago with support, had been told the form was not ready at the time and to keep trying, and now being told that you cannot see the data that is there and can't seem to explain the error, I can only think of two things to do: clear down and start over, or ask for a refund and use a different tool. I successfully used Turbo Tax Business this year to create my K-1, and successfully used Turbo Tax in 2023 for 2022 so this is very disappointing. Do you think clearing down and starting over would be a reasonable step to take as a last resort?

[MonikaK1]

Thank you for your patience. We found the reason I couldn't see the income on the 1040 in the Desktop version was that I needed to download the Delaware product. 

Once I was able to see your income information, I saw that there weren't any capital losses shown to carry to 2023. However, I was able to add capital loss amounts for 2022 and generate the carryover worksheet in TurboTax Desktop.

Using a test return in TurboTax Online, I was also able to enter capital losses to carry over from 2022, and to see a return preview that included the losses (you can't print completed forms in TurboTax Online until you pay for the product).

To enter the information for capital loss carryovers in TurboTax Online:

1. Sign in to your TurboTax account and open your return by selecting Continue or Pick up where you left off in the progress tracker.
2. Search for capital loss carryover, and then select the Jump to link in the search results.
3. Select Yes on the screen Did you have investment losses you couldn't claim last year?
4. Enter the info about your capital loss on the following screens.