TaxGuyBill
Level 15
a week ago
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Was the 2022 tax return not able to claim the loss due to the lack of Basis? That would be the most common reason why a 2022 loss would show up on a 2023 tax return (if Basis was restored).
However, you said 2023 had a loss, so unless contributions were made (or some other way to increase Basis), then the losses would not have been able to be used. That leads me to suspect it was a mistake.
At any rate, looking at Basis for both years (and if the 2022 tax return allowed the loss) is the first thing I would look at.