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ProSeries Frequently Asked Questions

Form 1040, Schedule D Capital Loss Carry Forward Is Zero

Products Affected:

• ProSeries/1040
• ProSeries Express/1040
• ProSeries Basic/1040

Situation

On Form 1040, Schedule D, a capital loss carry forward from 2005 to 2006 will transfer a zero if the loss was used up in 2005. This may cause Schedule D to be included in the return unnecessarily.

Solution

This situation was corrected in the Federal 1040 update that became available online on February 17, 2007. Download and install the current update if you have not already done so. (Go to the Update menu and select Update Installed Products.) 

Workaround (prior to update) 

Override the Schedule D Capital Loss Carryover Worksheet, line 10 or 15, and leave the line blank. 

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