Why does Form 8615, Parent's Schedule D and Investment Interest Smart Worksheet reject zero for "ParentsNetLTGain"? I'm getting an error for this, Line B.

dtbaietto2 · ‎April 4, 2020

The line references to get the value from SchD line 15 or Qual Div/CapGn worksheet line 3, but I have both of those as zero in my return. I don't understand why the tool is rejecting zero.

LinaJ2020 · ‎April 4, 2020

Are you choosing the Pre-TCJA or TCJA rate? Try to just leave them blank instead of zeros.

@dtbaietto2

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dtbaietto2 · ‎April 4, 2020

Hi @LinaJ2020 .

Indeed, leaving the entry blank prevents the Error. I was going back through the Interview to see the exact wording of the instructions:

If Schedule D, Line 15 is a gain, enter the amount on this line.

If Schedule D, Line 15 is a loss, do not enter an amount on this line and leave the line blank.

So, I was assuming zero was needed, as I was not considering zero as a "loss". Thanks for the help.

LinaJ2020 · ‎April 5, 2020

Glad to hear that. You are very welcome!

@dtbaietto2

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Why does Form 8615, Parent's Schedule D and Investment Interest Smart Worksheet reject zero for "ParentsNetLTGain"? I'm getting an error for this, Line B.