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2017 LPP Loss not showing up in Turbotax for Carry Forward - why?
- My re-filed 2017 T1 shows a LPP Loss: https://prnt.sc/mt305x
- Turbotax 2018 does not recognize/import this loss: https://prnt.sc/mt31bl
Why?
I want the TurboTax system to recognize that loss from previous years, so it can carry forward 7 years. Should it not populate that field?
October 30, 2019
9:48 PM
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Troubleshooting
When you started your tax return for 2018 did you "Start a new return" or "Transfer into a new 2018 return"? If you started a new return you would have to manually enter it. If you transferred to a new return, did the time limit end for carrying it forward? That might be why.
October 30, 2019
9:48 PM
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Troubleshooting
I imported from the previous year. As the loss occurred in 2017, it has a 7 year expiry, so still 6 more years after this one. I guess I'll just manually enter the number even though it says available balance of 0 from notice of assessment before. Would be nice if TurboTax actually helped out and answered their customers.
October 30, 2019
9:48 PM
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Troubleshooting
It appears to be a problem with the CRA system. The CRA area for your account won't show the LPP as a loss - but there is an area to specify the loss to be carried forward in the tax program. I ended up using SimpleTax instead - their help was super fast and it's free or you can choose to donate. Not happy with Turbotax customer service.
October 30, 2019
9:48 PM
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Troubleshooting
From what I understand that Notice Of Assessment should have shown a carry forward. I understand you as a question I needed answered wasn't answered from Turbo Tax but rather I obtained information through this community forum.
October 30, 2019
9:48 PM