I have entered the deemed disposition of shares for a deceased taxpayer which created a capital loss on their final return. The Taxable capital loss showed up on line 12700 but did not carryforward to line 16 as a net capital loss in the year of death can be applied against other income. How do I fix this?
Just found out that my net income was reduced by the taxable capital loss however no amounts showed up on lines 24400 to 25700 or 25999 showing the taxable capital loss that reduced the net income. The taxable income is correct.
Schedule 3 is still locked by CRA and not finalized by CRA yet. Please refer to this link Why does TurboTax say my forms are locked or haven't been finalized?
We do not have any ETA on this yet but as soon a these forms gets finalize we will be updating them in TurboTax for an accurate calculations.
We appreciate your patience.
Thank you for choosing TurboTax.
PacNW1
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Tarbotux
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