Troubleshooting

Yeah, I have the Schedule 3 problem where Net Capital Loss is calculated incorrectly.
They did an update this week, but it still isn't fixed.

Myself, I had Net Capital Losses in both period-1 and period-2.
These are small losses around $10K each, so a 50% inclusion rate should be applied to both.


Instead they apply the 66.67% inclusion rate to the period-2 loss as if it was over $250K.
The Total Capital Loss in line 30 is calculated correctly.
The Net Capital Loss in line 46 is calculated incorrectly.

 

Example of Turbo Tax results for Capital Loss 2024:
Period 1 loss = -$10000
Period 2 loss = -$12000
Total Capital Loss line 30 = -$22000 (correct)
Net Capital Loss line 46 = -$13000 (incorrect - should 50% of Total Capital Loss = -$11000)