Question

Does Turbo Tax automatically find carryover deductions?

Forum|Forum|2 years ago
April 1, 2024
1 reply
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When using 2022 to set up 2023, does TurboTax find carryover deductions automatically? Carryover has always been "above my pay grade" when it comes to doing taxes. I'm just wondering this is something that I'm missing whenever I see the question under any categories (ie Section 179, Home Office, Schedule C)

KrisD15

TurboTax is programed to carry-over amounts if applicable, but you should always verify.

The things you list, (Section 179, Home Office, Schedule C) indicate that if you had carry-over, it would be for deductions you were not allowed because you did not show any business profit.

Therefore, you can check your Schedule C (or schedule E if a rental) to see if any expenses or depreciation was limited.

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