TaxGuyBill
Level 15
03-22-2020
01:33 PM
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@lmhenry4 wrote:I'm showing a small passive loss on the Sch E, but what I'm not showing is the Capital Loss Carryover on line 14 of the Sch.D. If I input it to show there it reduces the gain which already includes the loss, I just can't get it to show on Sch. D.
Now I'm even more confused.
This is a carryover CAPITAL Loss? What was previously sold?
A carryover Capital Loss would not affect the gain/loss on 4797, so the gain should NOT "already include the loss". That only shows up on Schedule D.