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Level 2
June 1, 2021
Question

How do I report K-1 info on amended return when it only increases capital loss carryforward?

  • June 1, 2021
  • 1 reply
  • 4 views

Received late k-1 with capital loss, but the original return had already used the $3000 from previous capital loss carryforward, so there was no increase in tax to report.

How do I report the increase in the capital loss carryforward, since this does not show in the change schedule of the 1040X?

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1 reply

Just-Lisa-Now-
Intuit Community Champion
June 1, 2021
The Sch D should reflect the increased loss carryforward. In the explanation box, be sure you explain that this is the only change to the return.
♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪