Capital Loss Carryover

Forum|Forum|5 years ago
February 24, 2021
8 replies
21 views

My clients sold stock in 2018 and incurred a loss. The entire loss was claimed in 2018, however for some reason ProSeries is continuing to carry that loss over to 2019 and 2020 in the exact same amount. Can someone tell me why this is happening and how to correct it?

Please and thank you!

ProSeries Professional

This topic has been closed for replies.

Just-Lisa-Now-

Intuit Community Champion

was it able to be utilized in 2018?

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

T

TJFERGAuthor

Level 3

Yes and then entire amount was claimed in 2018 as it was less than $1,000. Now we are going to have to file an amended return for 2019 because for some reason the software carried that loss forward to 2019 and also 2020, which thankfully it was caught this year. I'm just trying to understand why the software is doing that.

Just-Lisa-Now-

Intuit Community Champion

But did they end up at negative income after that $1000 loss in 2018? If you cant use the loss, I think it keeps carrying over. Look at the Carryover Worksheet in 2018 and 2019.

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

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