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Level 7
November 11, 2021
Question

2021 software

  • November 11, 2021
  • 6 replies
  • 20 views

I tried out the 2021 software only to see how it handled a client's sale of rental property, Form 4797 showed a long capital gain of $320K. But it did not flow over to Sch D. Since this law is same as it was in 2020, I wonder what I did wrong that the capital gain did not go to Sch D or 1040.

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6 replies

November 11, 2021

Are you saying the gain does not show up on Schedule 1?

If you "Save As" a copy of the 2020 return, does it show up as expected?

If so, your mistake was using the 2021 software this early.  If not, you may be entering something wrong or thinking it should show up differently than it really does.

GretaAuthor
Level 7
November 12, 2021

Yes, when I used 2020 software "save as 2021", it worked properly.

Do they really start each year's software "from scratch"?

November 22, 2021

Thank you! We've got our eye on this.