Carryforward of Losses from Form 4797

[d00de]

New York State

Hi All, Hope this is the right venue.

In 2017 I filed taxes with a (loss) from Form 4797 of -85,808. This carried over to my 1040 and I ended up with an AGI of -71,543. Then took the standard deduction of 12,700 and an exemption of 8,100. Ended up with 2487 refunded.

This year I'd like to pick up whatever remainder of those losses I can, but TurboTax isn't pulling it up, even though last year was also done in TurboTax. So I'm unsure whether to enter the balance of the loss (which I think might be -73656) and enter it under NOL carryforward, or whether it belongs elsewhere.

Any help would be appreciated!

 

[PayrollHRGuy]

This really sounds like more of a TurboTax tech support question than a tax question (at this point at least). Have you called them?

 

[d00de]

I haven't as I'm not trying to figure out the software glitch, I'm trying to figure out how to make the entry. Forget the TurboTax part for the purposes of discussion.

 

[LdiJ]

I haven't as I'm not trying to figure out the software glitch, I'm trying to figure out how to make the entry. Forget the TurboTax part for the purposes of discussion.

I have thought of several different responses to give you based on "what ifs". However, the reality of things is that you really need someone to look over that return to see what it going on. That means paying for the TurboTax people to review it or giving up on TurboTax (after you print up a copy of the full 2017 tax return) and having a tax professional handle your return.

The latter option probably means filing for an extension as your odds of getting in to a professional with only 4 days left in the tax season are pretty slim. Our office has no appointments left, and while we do normally take walk ins we have had to turn some away this year.