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Discussion:Sch D Carryover from PY Incorrect

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Discussion Forum Index --> Basic Tax Questions --> Sch D Carryover from PY Incorrect


Discussion Forum Index --> Tax Questions --> Sch D Carryover from PY Incorrect

Aatop (talk|edits) said:

19 March 2014
Client's 2012 filing status was MFS. Client's spouse passed away in 2012, second marriage for the deceased, spouse's children were not amicable with taxpayer's family, hence MFS status. Taxpayer reported 100% (instead of 1/2) of 1099-B transactions which resulted in $4,124 in losses on her return. Spouse also reported 100% of the transactions resulting in $4,124 in losses on his return. Since the returns were MFS, the losses were limited to $1,500 each. Taxpayer's 2012 return reflects the $4,124 on Line 16 of Schedule D when it should have only been $2,062. Does 2012 return need to be amended to reflect correct amount?

Ckenefick (talk|edits) said:

19 March 2014
No, just adjust the c/f on the 2013 return.

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