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Capital Loss Carryforward

 

Capital Loss Carryforward

The purpose of this template is to produce a carryforward schedule for IRC Sec. 1212(a)(1) capital losses.

Entering Information

All of the information needed to produce the carryforward schedule is entered on the Input worksheet.  The yellow highlighted cells are calculated fields, and no data should be entered in these cells.  Gray cells are not calculated fields, but data should not be entered in these cells.
Use the two buttons at the top of the Input worksheet to select a carryforward schedule for a single capital loss or a combined schedule for multiple losses.

Enter the following information:

  • The tax year of loss (This value is used to generate the input table.)
  • The amount of the loss:
- Enter the loss (or losses, if the multiple loss option is selected) in the loss-generated column of the input table on the line that corresponds to the year that the loss occurred.
- A column is provided in the input table to add comments or descriptions about the various losses entered.  This information is not required for purposes of generating the carryforward schedule.
  • The loss utilized:
- Enter losses utilized in the loss-utilized column of the Input table on the line that corresponds to the year that the loss is deducted for tax purposes.