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March 31, 2025
Question

Preexisting capital loss carryovers as new resident of Arkansas

  • March 31, 2025
  • 1 reply
  • 0 views

I moved to Arkansas last year and am not sure how to enter both long and short term loss carryovers. First, I think that I am entitled to those loss carryovers even though they occurred prior to my residency in Arkansas. Is that correct? Second, how do I enter that in TT?  TT wants to put zero ( - 0 - ) in Form AR1000D as AR carryovers from 2023 since I did not file an AR tax return that year.  Should I override that?

 

TIA for any help.

    1 reply

    April 8, 2025

    No, Arkansas will not allow the carryovers if the losses were not from Arkansas dispositions.