Entering Capital Loss Carryovers in ProConnect Tax

This article explains how to report capital loss carryovers.

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

Table of contents:

Individual

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.

Corporate

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.

Exempt Org.

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.

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.