How to zero out passive carryover loss

[potatopotato]

Hello,

I amended my 2023 tax last week (1st week of April, IRS accepted + tax owed) and wondered if the 2024 tax will use the amended 2023 or the original 2023 submission?  The reason I asked is because I amended a passive loss carryover in 2023, but the original value persisted in 2024 (I cannot change the values despite telling TT that I no longer have that carryover loss).  Due to time, I have submitted my 2024 tax and have to amend.  This feels like an infinite cycle.

Questions:

1.Does 2024 tax pull data from the original 2023 submission or amended?

2.How to zero out Passive Carryover Loss in 2024 per the 2023 amended?

[BrittanyS]

You can delete the carryover worksheet and this will remove the carryover.  Just remember that deleting the carryover worksheet will permanently remove the carryover and it will not be able to be added back.  To delete the worksheet follow these steps: 

 

1. From the left rail menu in TurboTax Online, select Tax Tools (You may have to scroll down on the left rail menu.)
2. On the drop-down select Tools
3. On the Pop-Up menu titled “Tools Center,” select Delete a Form 
4. This will show all of the forms in your return
5. Scroll down to the form you want to delete
6. Select the Form
7. Click on Delete. 

Always use extreme caution when deleting information from your tax return.  There could be unintended consequences. 

As for which return TurboTax will import from would depend on when the return was started.  TurboTax can import form the amended return but only if the amended return was completed prior to starting the 2024 filing.  If the return was not complete when 2024 was started then the 2023 orginal return would be the return it was pulled from.