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posted Apr 6, 2024 12:55:38 PM

Massachusetts Prior short-term unused losses not imported from 2022 into 2023

I imported my 2022 return using TurboTax Deluxe for Windows and the

Massachusetts Schedule B line 18
Prior short-term unused losses for years beginning after 1981 (from 2022 Massachusetts Schedule B, line 40) was left blank.

 

As a result, my short term losses for 2023 were not being offset, and the calculated tax was too high for 2023 by a significant amount.

 

I entered the correct loss value from the PDF of the 2022 return and the calculation reduced the MA Tax due.

This is something I uncovered only by careful review of the forms.

 

Was this an error in Turbo Tax that was subsequently corrected?  I imported return some while back.  I always update TurboTax but if there was an error it would likely not reflect when the import was done earlier.

 

 

 

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