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TY21 -> TY22 conversion AMT capital loss carryover adjustment smart worksheet

I've come across many posts with the same issue. But there has been no clear answer yet. TY 2021 had no capital loss carryover. I only have a schedule D form. No Schedule D for AMT. I tried to "amend" the TY2021 returns to force it to generate Schedule D for AMT. No luck.

 

My TY 2022 has capital loss carryovers and a Schedule D for AMT. 

 

I am being asked to enter the following 

Value from 2021 Schedule D for AMT, line 7
Value from 2021 Schedule D for AMT, line 15
Value from 2021 Schedule D for AMT, line 21
Value from 2021 Form 6251, line 4, alternative minimum taxable income
2021 Schedule D for AMT, line 7, per 2022 Capital Loss Carryover Wksht
2021 Schedule D for AMT, line 15, per 2022 Capital Loss Carryover Wksht
 
But I do not have a TY 2021 Schedule for AMT and TY 2022 Capital Loss Carryover Wksht. I do have a TY 2022  Capital Loss Carryforward Worksheet 
 
I've gone through so many threads and still don't know how to fix this. 
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9 Replies
TickTax
Returning Member

TY21 -> TY22 conversion AMT capital loss carryover adjustment smart worksheet

I'm in the same situation. I've read many of the threads here and elsewhere, but there is no clear answer; or at least not one that gives me the confidence to submit my taxes. I've never had to pay AMT, so I'm assuming I can just use lines 7 and 15 from my TY21 Schedule D, but again, I'm not certain.

 

It'd be great if we could get clear guidance on this from TurboTax.

TickTax
Returning Member

TY21 -> TY22 conversion AMT capital loss carryover adjustment smart worksheet

I was able to resolve this for my situation by doing the following:

 

  1. Installing TurboTax 2021 again and opening my 2021 return file
  2. Clicking on Forms (in the upper right corner of the application)
  3. Clicking on Open Form (upper left of the forms screen - see image below)
  4. Typing "schedule d amt" into the "Open Form" search field
  5. Double clicking on "Schedule D: AMT: Capital Gains & Losses AMT"
  6. Pulling the values I needed from the "Schedule D AMT" worksheet that generates

    Screenshot from 2024-04-06 21-27-42.png

My values (from lines 7 and 15) were the same as what was in my 2021 Schedule D, but it was nice to confirm that.

TY21 -> TY22 conversion AMT capital loss carryover adjustment smart worksheet

Thank you!! This finally worked after reading so many threads to no avail. The forms section that you mention is not available in the online version. For others in the same situation, you can download the 2021 desktop version from TurboTax (for free). You then need to export your 2021 online file as a .tax to then open it in the desktop. Then the guidance above works perfectly. 

upsauce
New Member

TY21 -> TY22 conversion AMT capital loss carryover adjustment smart worksheet

Where did you download the 2021 version of turbo tax for free?

TY21 -> TY22 conversion AMT capital loss carryover adjustment smart worksheet

Hi! Screenshot below, with numbers corresponding to these directions: On the left side bar, click tax home (#1), scroll to the bottom, then click 2021 (#2). Then if you expand the item that says 'ammend (change) 2021 return' (#3), you'll have a link to download a copy (#4). It goes through various steps to 'purchase' the download but the cost was zero. The file you need to import into this desktop software you can download slightly below that (#5).

 

TurboTax.png

upsauce
New Member

TY21 -> TY22 conversion AMT capital loss carryover adjustment smart worksheet

Thanks for the detailed response! Looks like I don't qualify as I didn't use TurboTax Online or I didn't use my intuit account to log my return in 2021. There is a link but it directs me to purchase 2021 TurboTax.

jorricha
New Member

TY21 -> TY22 conversion AMT capital loss carryover adjustment smart worksheet

Thank you so much

jorricha
New Member

TY21 -> TY22 conversion AMT capital loss carryover adjustment smart worksheet

Thank you, life saver.

DawnC
Expert Alumni

TY21 -> TY22 conversion AMT capital loss carryover adjustment smart worksheet

How did you prepare your 2021 tax return?   If you have the PDF copies, you should be able to verify the numbers.  @upsauce 

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