TurboTax Schedule D Capital Loss Carryover Loop

[pfgoergen1]

Using TT Premier 2021. I'm running into this loop in the Income section. I've listed the titles of the pages with any additional information or my bolded response in parentheses.

- Here's all the investment accounts we have so far (Shows investment account)

- Do you know your capital loss carryover amounts (Yes...)

- Let's get some info from your 2020 tax return

- Capital Loss Carryover Summary (Shows carryover)

- Did you receive a Form 2439 for 2021? (No)

- Any Straddles or Section 1256 Contracts (No)

- Incentive Stock Options (No...)

- Here's all the investment accounts we have so far (Shows investment account)

- ...

Pete

[pfgoergen1]

BTW, the investment information was imported from Fidelity.

Pete

[RobertB4444]

It is a good idea to first clear your cache and cookies - which means removing all of the temporary programs that can gum up your web browser.  If that doesn't work, try using a different web browser.

Here is a link on how to clear your cache and cookies.

It doesn't look like this is an import issue with Fidelity but if it is only a few trades you can try deleting the imported 1099-B and entering it manually and seeing if that clears up the error.

If it doesn't, then you are probably better off having someone walk through the return with you to look at your entries so I recommend getting live expert help.

Here is a link to finding a TurboTax expert.

However, that requires upgrading your product which may be an expense you don't want.  In that case you can call an expert and ask questions over the phone.

Here is a link to the TurboTax Phone Number.

[pfgoergen1]

So I'm using TT Desktop, not TT Online, so skipped the cache and cookie clearing.

I re-ran TurboTax, entering my 3 Fidelity sales manually, skipping the 1099-B import.

Still getting the same loop.

Looks like it's time to call TT support.

Pete

[pete39]

I'm using premier, on desktop. Have the same issue - looping at loss carryover.  

Peter 

[pfgoergen1]

So the problem has disappeared.

My uneducated suspicion is that it was an issue that was resolved in Thursday's TT update.

Pete

[DavidVIII]

Having the same issue.  Loops back to "do you know your capital loss carryover amount?" every time.  Using Desktop, premier version, just installed and updated.  downloaded consolidated 1099 from Ameritrade.

Tried clicking No, I'll enter amounts AND Yes, I'll review. Still loops

[HeatherPLO]

@DavidVIII

Please see this Help Article for instructions on how to manually update your software.  If this does not resolve your issue, please reach back out for further assistance.  

[ms11111]

Does not accurately transfer 2020 amounts to the new version of Turbo 2021

Led me to have a huge AMT tax due

Please fix

[GeorgeM777]

Ordinarily, your prior year capital loss carryovers should automatically populate for the current year return.  However, because it appears the carryover amount may not be correct, you can edit the amount. 

To edit the capital loss carryover entry, sign-in to your TurboTax account.  In TurboTax online, from the Income & Expense page, scroll down to the Investment Income subsection, click on the drop down arrow and select the Capital Loss Carryover.  The page that appears will have your carryover loss information, but if you need to edit such information, click on Edit which will appear to the right of the displayed information.  

@ms11111

[ms11111]

Thank you

I did override the figures in the Capital Loss Carryover.  I assume that's what you meant

But is Intuit going  to fix this in an update?

Makes me worry what else is going undetected in 2021 version