Doing a return for a decease person. He has capital loss from previous year. It could be used to reduce other income on line 253. Turbo Tax does not allow me to do that.

[luc-juteau]

I am doing a return for a decease person.  He still has capital loss room from previous year and no capital gain this year to use it.  I read that on the year of death it could be used to reduce other income.  The amount must be entered on line 253, and Turbo Tax does not allow me to do that. I need help.

[TurboTaxKim · Accepted solution]

There is a way to do this, but you will have to be in the Forms view of your TurboTax CD/download version to apply the loss against income other than Capital Gains. (EasyStep will only allow you to enter the amount of the Net Capital Loss carried forward).

While in the Forms view, go to the Forms icon in the top bar. Type in "Loss" as you keyword to search for. When you land on that Loss Worksheet, scroll down to the Net Capital Loss section and make your entries there as shown in the screenshot. You will get an Error message when you do the review asking you to "Fix" the entry as your Net Capital Loss cannot be more than your 2018 Capital Gains, but you can disregard this NetFile error as you will be printing the return to mail in.

[luc-juteau]

Hi Kim, I am trying to enter the amount, as per your directive, but I get a message that is asking to double click, when I double click I pivot between the 2 screen shots shown in your reply without been able to enter the amount anywhere.

[luc-juteau]

Hi Kim, just got it it is important to enter the amount on the top line.  I was trying to enter on the total line.  Thank You for your help.  I feel bad for not getting this earlier.  Have a nice day.

[TurboTaxKim]

Glad you got it solved.  (I may have caused some confusion with the switching between EasyStep and Forms view
 too)   

[luc-juteau]

Hi Kim, switching was not the problem.  I use this function all the time to get around faster and get back into EasyStep to resume the interview were I left of.  In addition I often open saved file and then switch to form get to what I am looking for then exit without saving.

[mtaiTbTax]

Dear TurboTaxKim,

Please, tell me how to see your screenshot in your paragraph:

" (…) scroll down to the Net Capital Loss section and make your entries there as shown in the screenshot."

Because nothing pop-up while I click on:

View solution in original post

I can't follow your solution on how  to offset any income from the deceased person with his net capital loss for his last year of living.

Thanks!