kwyp
Level 4
08-15-2024
07:09 PM
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Carryover loss includes portfolio investment loss, business loss, and passive loss
I find the below losses on a 1040 return that needs to be entered for the current year.
1.) If line 16 on page 2 Sch D, combined total investment is a loss in the prior year, then the net loss ( the combined loss -$3000), need to be entered at line 6 or line 14 on the current year return Sch D.
2.) If 8582 Part IV (e) is a loss, the this loss needs to be entered at Line 1 (c) on 8583 on current year return
3.) If 8995 line 17 is a loss, then this loss need to be entered at line 3 on the same form 8995 for the current year.
Are there any more carryovers that need to pay attention for?
Please correct me if I am wrong.