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anne1680
New Member

How do you bring a reserve claimed in 2019 into income on your 2020 return?

 
1 Reply

How do you bring a reserve claimed in 2019 into income on your 2020 return?

Thank you for your question.

 

To bring a reserved claimed in 2019 into your 2020 tax return, follow these instructions:

 

1) Open your TurboTax return

2) Click on Income on the left hand side of the page; then click on investments; finally, click on Capital Gains and Capital Gains Deduction Profile

3) On the capital gains profile for 2020 page, check off "Claiming a reserve on dispositions of capital property"

4) Complete the following page

 

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