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How to enter lt capital loss carryover in schedule D proseries 2020?

Level 2

I'm working on a new client's tax return who has a capital loss carryover from a 2015 stock sale. Do I actually have to enter all of his tax returns since 2015 into proseries to get the capital loss carryover to go into the 2020 proseries?  That would be a massive amount of work.

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Level 8

Go to your 2020 Schedule D line 14 and click into the carryover worksheet and manually enter the known amount of the carryover in the 2019 column and it will carry to the schedule D

If your don't know the amount of loss carryover that is a whole different issue.

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10 Replies 10
Level 5

No you should not have to re-enter everything back from 2015. The short-term capital loss carryover and the long-term capital loss carryover should come forward from the 2019 return automatically.

Level 5

If it is a new client then get the capital loss carryovers from the 2019 return. There should be somewhere on the software where all you will have to enter are the capital loss carry forward to 2020

Level 7

look for fed'l carryover worksheet

Level 5

Yes that is correct but sometimes there is not a federal carryover worksheet. If that is the scenario then you should be able to find the information on the return

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Level 8

Enter the long term loss carryover on line 14 Schedule D worksheet, I think that is what you are asking.

Level 2

OK thanks, it was line 13a Federal Carryover worksheet .  That was the solution.

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Level 7

I am sorry, thought you knew what the carryovers were.  you might be able to figure out the carryover by looking at the schedule d also

Level 2

I'm looking at the 2019 Capital loss information Smart Worksheet in proseries 2020.  But there is no box to enter the remaining capital loss carryover from 2019

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Level 8

Go to your 2020 Schedule D line 14 and click into the carryover worksheet and manually enter the known amount of the carryover in the 2019 column and it will carry to the schedule D

If your don't know the amount of loss carryover that is a whole different issue.

View solution in original post

Level 8

I tried it twice and it works.

 

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