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Level 3
February 13, 2021
Solved

How to enter lt capital loss carryover in schedule D proseries 2020?

  • February 13, 2021
  • 10 replies
  • 71 views

I'm working on a new client's tax return who has a capital loss carryover from a 2015 stock sale. Do I actually have to enter all of his tax returns since 2015 into proseries to get the capital loss carryover to go into the 2020 proseries?  That would be a massive amount of work.

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Best answer by Camp1040

I'm looking at the 2019 Capital loss information Smart Worksheet in proseries 2020.  But there is no box to enter the remaining capital loss carryover from 2019


Go to your 2020 Schedule D line 14 and click into the carryover worksheet and manually enter the known amount of the carryover in the 2019 column and it will carry to the schedule D

If your don't know the amount of loss carryover that is a whole different issue.

10 replies

PATAX
Level 12
February 13, 2021

No you should not have to re-enter everything back from 2015. The short-term capital loss carryover and the long-term capital loss carryover should come forward from the 2019 return automatically.

PATAX
Level 12
February 13, 2021

If it is a new client then get the capital loss carryovers from the 2019 return. There should be somewhere on the software where all you will have to enter are the capital loss carry forward to 2020

Level 6
February 13, 2021

look for fed'l carryover worksheet