Solved: Filing as Married Jointly for 1st time. Do I have to Add both Cap Loss #'s up, then enter?
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Level 2

Filing as Married Jointly for 1st time. Do I have to Add both Cap Loss #'s up, then enter?

Recently married & using TT Deluxe 2018 and "trying " to file Married filing Jointly..  Not very intuitive when & how I enter My or Spouses data OR have to do the math and add $ together, then enter. Specifically, Capital Loss Carryovers (for 2017). Should I be pulling data from Both our Returns and adding together or ??  Thanks any/everyone ...

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Level 15

Filing as Married Jointly for 1st time. Do I have to Add both Cap Loss #'s up, then enter?

If you are doing your first joint return, you can only transfer from one of your two previous returns. The 2nd spouse's data will all have to be entered manually. 

Whoever you choose to transfer from will be the first named person (the taxpayer) on the joint return. The 2nd person will be the spouse.

Yes, the only way to correctly enter the combined capital loss carry forward is to add them together and enter the total.

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Level 15

Filing as Married Jointly for 1st time. Do I have to Add both Cap Loss #'s up, then enter?

If you are doing your first joint return, you can only transfer from one of your two previous returns. The 2nd spouse's data will all have to be entered manually. 

Whoever you choose to transfer from will be the first named person (the taxpayer) on the joint return. The 2nd person will be the spouse.

Yes, the only way to correctly enter the combined capital loss carry forward is to add them together and enter the total.

View solution in original post

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