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Level 2
April 3, 2025
Question

AMT capital loss carryovers have not been entered. US - Ref #9332- How to Solve Diagnostic Error

  • April 3, 2025
  • 1 reply
  • 8 views

A client failed to carry forward a capital loss from 2022 to 2023. The return was not originally prepared by me and I had to amend 2023 TY return using ProConnect.  

After the amendment, the prior year carry forward capital loss has triggered a prior year AMT adjustment diagnostic error - Ref #9332. 

I checked TP's 2022 tax transcript and could not see any carry forward AMT either. This diagnostic error is preventing me from completing this 2023 amendment.

Can someone help with how I can solve this in ProConnect? 

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    1 reply

    George4Tacks
    Level 15
    April 3, 2025

    What was sold? Is the AMT loss any different from the loss? Figure it out and enter a number for AMT loss.

    Answers are easy. Questions are hard!
    TruCredAuthor
    Level 2
    April 3, 2025

     

    The capital loss emanated from  capital market stock trading losses.

    I do not have all information necessary to figure out prior  year (TY 2022) AMT.

    Prior year(TY2022) IRS return transcript shows capital loss balance but  zero  AMT. (see appended)

     

     

    sjrcpa
    Level 15
    April 3, 2025

    Most likely the AMT capital loss c/o is the same as the regular tax one.

    The more I know the more I don’t know.