Your return, scored in plain language
Overall: Red
Specialist review needed before filing. There's a blocker we won't paper over.
Example cases
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No Transaction Data Uploaded
No transaction data uploaded. Review based on summary packet only while the backend packet still provides deterministic findings, carryforward, and workflow state.
Reported carryforward differs from deterministic result
RedSpecialist review needed before filing. There's a blocker we won't paper over.
Reported treatment shifts from Reported next-year carryforward ST 0.00 / LT 0.00 to Deterministic carryforward ST 3000.00 / LT 1000.00.
IRC Section 1211(b): Individuals may deduct capital losses only up to the annual statutory limit against ordinary income.IRC Section 1212(b): Unused net capital losses may carry forward to future taxable years for individuals.Schedule D Instructions: Capital loss carryovers should be tracked year over year and documented to the filed return.Publication 550 - Capital gains and losses: Publication 550 explains capital gains and losses, including netting and reporting concepts relevant to individual investors.Topic No. 409 - Annual limit and carryover: Topic No. 409 summarizes the annual capital-loss limit and carryover concept for individual taxpayers.Adverse authority - Schedule D Instructions: If a worksheet phrasing question conflicts with the statutory annual loss limit, the Code controls.Reported capital netting differs from deterministic result
RedSpecialist review needed before filing. There's a blocker we won't paper over.
Reported treatment shifts from Reported ST -4000.00, LT -500.00, net -4500.00 to Deterministic ST -6000.00, LT -1000.00, net -7000.00.
IRC Section 1222: Short-term and long-term capital gains and losses are defined by statutory holding period character.IRC Section 1222: Section 1222 defines short-term and long-term capital gain and loss terms used throughout the capital-gains regime.Schedule D Instructions: Capital loss carryovers should be tracked year over year and documented to the filed return.Adverse authority - Schedule D Instructions: If a worksheet phrasing question conflicts with the statutory annual loss limit, the Code controls.Available capital loss was not fully used
RedSpecialist review needed before filing. There's a blocker we won't paper over.
Reported treatment shifts from Reported net capital result -4500.00 and capital loss deduction 1500.00 to Deterministic net capital result -7000.00 and capital loss deduction 3000.00.
IRC Section 1211(b): Individuals may deduct capital losses only up to the annual statutory limit against ordinary income.Schedule D Instructions: Capital loss carryovers should be tracked year over year and documented to the filed return.Topic No. 409 - Annual limit and carryover: Topic No. 409 summarizes the annual capital-loss limit and carryover concept for individual taxpayers.Adverse authority - Schedule D Instructions: If a worksheet phrasing question conflicts with the statutory annual loss limit, the Code controls.What to do next
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