I was married for all of 2019, and am now getting divorced. We agreed to split the capital loss carryover 50/50. How can I enter this?
I am using the Mac desktop version of Turbo Tax. In the capital loss section, it asks for income and capital gains from last year, but if I put what was on the joint return that it ask for, it calculates that I get the full capital loss. Should I just divide everything in half?
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Yes, you will need to split those amounts from your Married Filing Joint return on your Married Filing Separate return to have the carryover calculate correctly.
Click this link for more info Splitting Capital Losses.
I know we have to split the capital loss. I just don't see how to enter it in Turbo Tax, it's automatically calculating the full loss. There is no field for me to enter half the capital loss.
there is a carryover wks or type carryover in the search box. that will allow you to go to the area where you can enter the carryover.
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