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Problem with Form 1041, Schedule D, carryover capital loss?

leisacpa2011
Level 1

Big Problem.  Client Trust 1041 return has a long term capital loss carryover from 2017.  On the 2018 return - Schedule D, line 15 - long-term capital loss carryover is the correct amount.  However page 2 Schedule D, PART III, line 18c has a number for 28% rate gain, pulling from a 28% Rate Gain Worksheet -- WHICH IS COMPLETELY WRONG. There was zero 28% rate gain from 2017 or 2018.  In fact, the Total, Line 19 for Schedule D, PART III, doesn't even add up correctly - it is ignoring the wrong number on 18c --  Don't think IRS will ignore a gain amount.   

Disappointed that even the mathematical error was not caught.

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1 Best Answer

Accepted Solutions
Allan at Intuit
Level 4

This issue is fixed in an update available today, February 27, 2019.  Please run program updates for the current version.

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7 Comments 7
Allan at Intuit
Level 4

This issue is fixed in an update available today, February 27, 2019.  Please run program updates for the current version.

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leisacpa2011
Level 1
will do, thanks.
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rjh1963
Level 2
Thank you software developers for the quick response time.
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rjh1963
Level 2

I am having the same problems.  It seems that Form 1041 Schedule D line 18c 28% Rate Gain Worksheet is not calculating properly because line 5 of the worksheet should be a negative number.  Because the number is populating as positive, the worksheet is wrong.

Hopefully the programmers will correct this ASAP.

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Allan at Intuit
Level 4

This issue has been reported to our development team.

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Marc-TaxMan
Level 8
and will be fixed in a future update... hopefully by 10/15/2019
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rjh1963
Level 2
Hopefully before 10/15/19 since the original due date of the return is 04/15/19 and the extended deadline is 09/30/19.
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