Capitol Loss Carryover Worsheet Error

Forum|Forum|2 years ago
February 14, 2024
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I'm doing my federal taxes 2023 desktop version. I did the review and 2 errors were found. The software says to check this entry, Capitol Loss Carryover worksheet TY21 Schedule D AMT, I need to enter a number in line 15. It looks like it wants the AMT from year 2021 line 7 and line 15.

1-I assume I get these numbers from the 2021 tax return NOT the 2022 tax return?

2-In addition, do I insert negative sign in front of the number or just the number?

Thanks so much, Bill

Best answer by CatinaT1

Hi Catina

TT software says to check this entry, Capitol Loss Carryover worksheet TY21 Schedule D AMT, I need to enter a number in line 15.

The more I look at this I think its not asking for schedule D but Schedule D AMT. Do you agree, I mean thats exactly what its saying. My TY21 Schedule D AMT is below. It seems to make sense to me.

Yes, use the number from this form. Not everyone has an AMT Sch D, so if you have one, yes, use the numbers from that.

mglauner

Yes, that's correct; reference your 2021 return for the Capital Loss Carryover amounts.

For a loss, enter a negative number.

Here's more info on How to Enter a Capital Loss Carryover.

@wchowe

[Edited 2/22/2024 | 1:21 pm]

wchoweAuthor

Its not clear what TT is asking for

1-IF its schedule D then there is no AMT numbers to reference? Only the worksheet shows AMT numbers

2-If its the schedule D carryover worksheet then there is no line 15?

I appreciate some clarification as to what TT needs. This seems to be a shortfall of TT that it cant pull the numbers it needs automatically!

Thanks

Bill

mglauner

There may be no AMT numbers on Schedule D in Lines 7 and 15, which is why TurboTax did not populate them.

It looks like it did populate the next two lines; Schedule D, Line 21 and Form 6251, Line 4. The entry areas reference Schedule D, not the worksheet.

Line 7 is Net Short Term Gain/Loss Total; Line 15 is Net Long Term Gain/Loss Total.

Since we can't see your return in this forum, I can't speak to what amounts are on the worksheet, but generally if you follow the flow of entries and use the Learn More links, you can determine why a number didn't pass from the worksheet onto Schedule D.

Here's detailed info on Capital Loss Carryovers you may find helpful.