Hi, so far I've almost finished my tax but I have to make one correction in order to finish my tax I have no clue what to enter and what document I should take a look at.
The following part is where I'm having trouble with.
If you do the TTAX step by step section for capital loss carryover it clearly states:
1) THEY MADE A MISTAKE IN 2023 for TY2022 (GREAT!!!). Any letter in the mail? NO. Any apologies ? NO. Any compensation? NO.
2) the mistake was corrected before March 1st 2023. So if you filed after March 1st you were NOT AFFECTED. In that case you can just enter my return WAS NOT AFFECTED by their MISTAKE...
This after spending TONS OF HOURS on the phone with TTAX specialists that are clueless. Sorry to say.
If you did file 2022 before 3/1/2023 then you need to carefully go through the STEP by STEP...GLTY.
TTAX to do this right should have had a DEDICATED SUPPORT TEAM for this issue.
I praised TTAX many times int he last few years, but this is NOT GOOD. TTAX you can do better.
I filed my 2023 return in late March 2023, but I still see 'TY21->TY22 conversion AMT capital loss carryover adjustment smart worksheet" and it was checked "yes" for "Is this return impacted by inaccurate TY21->TY22 conversion?" I tried to check "no" but it doesn't allow me to do so. The numbers were automatically filled in.
The numbers from 2021 Schedule D AMT line 7 and line 15 were wrong. I manually changed them and the check box changed to "no" this time.
Double-check the 2021 numbers. There was an issue fixed in early 2023 for Alternative Minimum Tax Capital Loss Carryover from 2021 to 2022. Some of 2022 returns (filed before March 1, 2023) may have brought over inaccurate information about the 2021 AMT capital loss carryover. Based on information transferred from your 2022 return, your return has been determined that it might have been potentially impacted. Although this had no impact on your 2022 tax return, we recommend double-checking your 2021 return for this information so we can get the right amount going forward. @blueaggue
Which documents do we get the info for:
So I am seeing the same issue, but I can't seem to find my AMT worksheet from 2021. Is there some way to pull it down from TTonline ? I have done my taxes with TTonline for the last 7 years...
Thanks!
FranksRental
Thank you for doing all this work. As I filed in April last year it was not applicable to my return. Have a great day
If using TurboTax online, ask your Live customer support agent for help:
2021>2022 AMT C/O conversion issue : Obtain diagnostic file from Amend 2021 to see carryover worksheet with AMT amounts
This doesn't answer the question about how to fill out the form in the original answer
Since I filed on 4/18/2023, should I change it "it this return impacted...." to NO and that's it?
I can't find the Highlighted Values below from 2022 file. Or keep the above answer as YES, but leave them blank and file?
If you're doing this in TurboTax Online and you aren't 100% sure about the numbers, DO NOT pay or print your tax return or you'll be locked out from making any further changes to this form. The only way to input these numbers is when the Online version throws you the errors during the "Review" step, so if you put in the wrong numbers and realize later, you need to hit "Clear & Start Over" and completely re-enter everything in order to throw the error again so you can input the correct numbers. Found this out the hard way and spent 4 hours on the phone with support to find out that they have NO ability to disable this.