2024 TurboTax T5 Box 34 Override Not Clearing

[marmour07]

 I mistakenly did an override for Box 34. When I say clear it in the Warnings. It says it still exists. If  I delete the T5 slip the error still exists. I had to go to Forms, Find Override, and clear it. Only then did it remove the value on the Schedule 3 form. Please correct in the next update.

[marmour07]

Updated original comments. Cant delete this post reply so just updating to remove comments.

[TurboTaxSusan]

Our development team is working on fixing the LOSS form, Schedule 3 and other related forms ASAP. 

In the meantime, if you are trying to estimate your taxes payable, use the old 50% capital gains rate, as the two-thirds new rate will no longer apply for 2024.

Thank you for your patience.

[marmour07]

Hi Susan, ok thanks. Just to clarify. It seems that if I input Box 34 on the T5 input line this causes TurboTax to think its an override even though I didnt do one. Hope this helps clarify this issue.

[TurboTaxSusan]

Yes. At the moment they are working on changes to all capital gains related forms and worksheets, and a new update should be available by the end of the week. This issue will likely be fixed at the same time.

[marmour07]

Just updated TurboTax Standard with the update. The override error still exists. It is occurring as a result of claiming on the Loss Screen in Easy Step 'Net Capital Losses Being Claimed'. I inputted in the box the maximum amount that I can claim as per the screen. This amount then shows up as an override in Chart A in the Loss Worksheet. I never did an override but it seems that entering the amount in the screen causes it to think its an override.

[TurboTaxVeronique]

CRA and Revenu Quebec are giving themselves until February 24th to adjust all the forms that have to do with capital gains and losses. We suggest you to consult this link that explain a lot about the delays.

To remove an override from a form or Worksheet in TurboTax Desktop, you click on Edit // Form overrides // Cancel All Overrides. 

If the issue persist after February 24th, we suggest you contact our Product support team by phone to report it. 

Thank you for choosing TurboTax.