Entering Capital Loss Carryovers in ProConnect Tax

This article explains how to report capital loss carryovers.

• For new clients entering capital loss carryovers
• For existing clients Capital loss carryovers will automatically transfer from a prior year into the appropriate input field.

Table of contents:

Individual

New client entry

1. In the Input Return tab select Income ⮕ Dispositions (Sch D., ect.) ⮕ Schedule D/4797/ect.
2. Select Carryovers/Misc Info in the top right corner of the screen.
3. In this screen you will enter the carryover amounts in the applicable fields for both regular and AMT.

Existing client entry

• Capital loss carryovers will automatically transfer from a prior year into the appropriate input field.

Corporate

New client entry

1. In the Input Return tab select Income ⮕Dispostions (Sch. D/4797/etc.)
2. Select Carryovers/Misc Info from the top right corner of the screen.
3. Locate the Schedule D (Miscellaneous) section.
4. Under the Capital Loss Carryover subsection, enter applicable amounts as they appear on Schedule D.

Existing client entry

• Capital loss carryovers will automatically transfer from a prior year into the appropriate input field.

Exempt Org.

New client entry

1. In the Input Return tab select Revenue ⮕Dispostions
2. Select Misc (C/O, CGD, etc.) from the top right corner of the screen.
3. Locate the Schedule D section.
4. Under the Capital Loss Carryover (Corps.) subsection, enter applicable amounts as they appear on Schedule D.

Existing client entry

• Capital loss carryovers will automatically transfer from a prior year into the appropriate input field.

Fiduciary

1. In the Input Return tab select Income ⮕Dispostions ⮕ Schedule D/4797/etc.
2. Select Carryovers/Misc from the top right corner of the screen.
3. Locate the Schedule D section.
4. Under the Capital Loss Carryover subsection, enter applicable amounts as they appear on Schedule D.
   • On Fiduciary returns, capital losses are only distributed to beneficiaries in the final year.

Existing client entry

• Capital loss carryovers will automatically transfer from a prior year into the appropriate input field.