Is there a place/method to enter LT and ST cap loss carry forward? In looking at my tax summary I need to zero out the gains for this year with prior year losses.
Thanks, Shorty
Where to enter cap loss carryforward
Dec 18, 2005
2 Replies
The only place I know of is in QW's Tax Planner - if you have/use that feature.
QW's Capital Gains Report only handles total gains/losses for a specified period.
ST and LT Cap Gain carry-overs are managed in the tax prep software - such as TTax. The carry-overs are calculated and stored in the tax program and transfered on to succeeding years.
Premier has enhanced tax reporting features but am not familiar with the extent of these enhancements - perhaps someone else can comment.
IIRC, the number to carry forward is in last year's return. I use TTAX every year and when it imports last year's return, it automatically carries it forward.
Join the Discussion
Have something to add? Share your thoughts — no account required.
Didn't find your answer?
Ask the community — no account required