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AMT capital loss carryovers have not been entered. US - Ref #9332- How to Solve Diagnostic Error

TruCred
Level 1

A client failed to carry forward a capital loss from 2022 to 2023. The return was not originally prepared by me and I had to amend 2023 TY return using ProConnect.  

After the amendment, the prior year carry forward capital loss has triggered a prior year AMT adjustment diagnostic error - Ref #9332. 

I checked TP's 2022 tax transcript and could not see any carry forward AMT either. This diagnostic error is preventing me from completing this 2023 amendment.Diagnostic Error.png

Can someone help with how I can solve this in ProConnect? 

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3 Comments 3
George4Tacks
Level 15

What was sold? Is the AMT loss any different from the loss? Figure it out and enter a number for AMT loss.


Answers are easy. Questions are hard!
TruCred
Level 1

 

The capital loss emanated from  capital market stock trading losses.

I do not have all information necessary to figure out prior  year (TY 2022) AMT.

Prior year(TY2022) IRS return transcript shows capital loss balance but  zero  AMT. (see appended)

 

 2023 Year AMT (As Per Transcript).png

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sjrcpa
Level 15

Most likely the AMT capital loss c/o is the same as the regular tax one.


The more I know the more I don’t know.