How do i get a loss carryforward when changing filing stats

Forum|Forum|6 years ago
December 7, 2019
2 replies
37 views

husband and wife are currently engaged in divorce action and previously filed a MFJ they are both filing as MFS this year. there was a loss carryforward for the previous sale of real estate how do I enter the spouse's share of the loss carryforward on the 2018 return?

Lacerte Tax

This topic has been closed for replies.

Best answer by itonewbie

The regulation requires that cap loss carried forward from prior years be allocated based on separate cap gain and loss calculated for each spouse.

itonewbieAnswer

Level 15

The regulation requires that cap loss carried forward from prior years be allocated based on separate cap gain and loss calculated for each spouse.

---------------------------------------------------------------------------------Still an AllStar

T

TaxGuyBill

Capital loss carryovers are entered on the Federal Carryover Worksheet.

Click the green "Where do I enter?" button and type "fed" to get there. About 1/2 down starting on line 12.

However, just to back up a second, you may want to double-check the loss from the sale of real estate properly created a capital loss. A loss from personal-use property is not deductible, and if it was from a rental or business, that loss would have been fully allowed in the year of the sale. So only property that was not personal-use or business/rental use would have created a capital loss carryover.

Sign up

Login with SSO

Let's get you signed in

Login with SSO