Can TurboTax Live Assistance answer specific questions about how to enter OID when bonds are bought below par and help with carrying forward business losses to 1040 SR?

susan100 · ‎March 19, 2025

The business was closed last year, but I understand losses can still be carried forward.

VictoriaD75 · ‎March 26, 2025

Yes. Per the IRS, OID losses are treated as capital losses. Capital losses are limited to $3,000 per year against ordinary income. Any unused loss can be carried forward and will be tracked within the software.

OID Losses

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Can TurboTax Live Assistance answer specific questions about how to enter OID when bonds are bought below par and help with carrying forward business losses to 1040 SR?

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