workhard2022
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01-16-2024
11:25 PM
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I have a friend's last year's tax return (form 1040) and I am trying to enter the capital loss carryover information into the current year's tax return in Proconnect. The last year's return only includes Schedule D and Form 8949 for the stock sale. How do I know the last year's capital loss is short-term or long-term?
For last year's tax return/ schedule 😧 had a net short-term capital loss ($1864), and net long-term capital loss ($1486). The combined capital loss from last year's return was ($3350). Now how do I know if the remaining ($350) is a short-term or long-term capital loss carryover? Proconnect asks me to input "short-term" or "long-term".
Thank you!
Best Answer Click here
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