I lost my hard disk and my 2019 .tax file and PDFs. I have downloaded a transcript of my 2019 return from the IRS. Does the transcript contain sufficient information to carry over deductions, losses, etc., from the prior year? If so, what info do I need to enter ... Any suggestions would be appreciated.
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Does the transcript contain sufficient information to carry over deductions, losses, etc., from the prior year?
not everything. but we don't know what items were on your 2019 that would be carryover items for 2020.
you can get a complete copy of 2019 by filing Form 4506 with the IRS. Fee $43. how long this would take is unknown.
https://www.irs.gov/pub/irs-pdf/f4506.pdf
Do you have a carryover loss on Schedule D?
That is not directly on the transcript but you can reconstruct the info from the transcript.
Do you have a prior years basis in IRAs?
That is not on the transcript.
IRS instructs you to keep copies of all Forms 8606 forever.
Do you have depreciation?
All that data is kept in your tax file. It is not on the transcript.
Does the transcript contain sufficient information to carry over deductions, losses, etc., from the prior year?
not everything. but we don't know what items were on your 2019 that would be carryover items for 2020.
you can get a complete copy of 2019 by filing Form 4506 with the IRS. Fee $43. how long this would take is unknown.
https://www.irs.gov/pub/irs-pdf/f4506.pdf
Can anybody tell me how to recover the .tax file? Does Turbo Tax somehow keep any copies?
@rgericks wrote:
Can anybody tell me how to recover the .tax file? Does Turbo Tax somehow keep any copies?
To access your current or prior year online tax returns sign onto the TurboTax website with the User ID you used to create the account - https://myturbotax.intuit.com/
Scroll down to the bottom of the screen and on the section Your tax returns & documents click on Show. Click on the Year and Click on Download .tax file
If you used the desktop CD/Download editions installed on your computer, the only copy of your tax data file and any PDF's will be on the computer where the return was created. TurboTax does not store online any returns completed using the desktop editions.
Sorry if you used the Desktop CD/Download program then the only copy is/was on your computer. Turbo Tax doesn't have or store a copy even if you efiled it. Check your backups for any .tax or .tax2019 files.
If you used the Windows Desktop program you need the file ending in .taxyyyy to open in it. The tax files (and PDF files) should be in your Documents then in a Turbo Tax subfolder. If you can't find them do a search for all files ending in .tax or .tax2020 or .tax2019, etc. And check the Recycle Bin. For Windows 10 check the One Drive. Did you make any backups? Like DropBox.
If you don't have the main .tax file you might have one that starts with a Tilde sign ~ like "~your name.tax2020". That file is if your computer crashes or your real file gets lost or deleted or corrupt so you can restore it.
Find your Tax file in Windows
Do you have a carryover loss on Schedule D?
That is not directly on the transcript but you can reconstruct the info from the transcript.
Do you have a prior years basis in IRAs?
That is not on the transcript.
IRS instructs you to keep copies of all Forms 8606 forever.
Do you have depreciation?
All that data is kept in your tax file. It is not on the transcript.
Thanks to everyone for their timely comments!
I do have carryover losses from 2019 .... I gather I can find them on Schedule D, but where would I enter them in TurboTax for 2020?
I do have the Forms 8606 with my IRA basis ... where would I enter them in TurboTax for 2020?
I do have depreciation of a rental property as well ... how would I go about reconstructing that for 2020?
Folks, no need to reply, I ended up reconstructing my .tax2019 file by entering data from printed copies of my tax returns into the forms in TurboTax. Worked like a charm.
I too have lost my .tax2020 TurboTax source files from last year and have no idea how these were deleted from our hard drives! The PDF records were preserved, but I can not understand how the source TurboTax files were completely erased! Is this an Intuit/ Turbo Tax feature for some reason? Knowing DOS and the Windows OS, I still have no idea how this happened, and I am trying to do recovery functions now. Thank you for telling me that Intuit - TurboTax does not retain these files on their system even though they receive them in the course of processing eFiling.
Sincerely,
J. Adams
@jadams504 TurboTax does not have access to your computer to remove any files. Your tax file is saved locally to your computer and when you e-file, TurboTax does not save a copy, the servers are used as a pass-thru.
Please see these TurboTax FAQs for help on how to find your tax files on your computer:
Find your tax data file in Mac
Find your tax data file (.tax file) in Windows
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