This year I noticed small errors in the capital loss carryover from last year. Both returns were/are done in TurboTax. ST loss about $20 too low and LT loss about $100 too high. Has anyone experienced this sort of thing before?
In the 2022 files, I had a WIP return saved, and also another return which is an strategy study for 2023. (Like many, I find using last year's tax software to be a useful tool for that, barring any major change to the tax code.) I checked, and the carryovers for those "returns" in 2022 format were very different than those in the filed 2022 return.
It makes me uneasy if TurboTax may not accurately load data from the prior year tax return file. However, the software specifically asks us if the loaded carryover amount are correct. It might be for cases like mine, or perhaps a CYA thing.
In the 2022 files, I had a WIP return saved, and also another return which is an strategy study for 2023. (Like many, I find using last year's tax software to be a useful tool for that, barring any major change to the tax code.) I checked, and the carryovers for those "returns" in 2022 format were very different than those in the filed 2022 return.
It makes me uneasy if TurboTax may not accurately load data from the prior year tax return file. However, the software specifically asks us if the loaded carryover amount are correct. It might be for cases like mine, or perhaps a CYA thing.
Statistics: Posted by SpideyIndexer — Fri Mar 01, 2024 2:02 am — Replies 0 — Views 128