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Author: Aida2003 Two stars, 250 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121565  
Subject: Capital Loss Carryover w.sh-Please clarify Date: 2/10/2009 7:59 AM
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I did our 2008 taxes yesterday. I mean a rough draft so I know the bottom line.
In 2008 we did TLH and we've got cap.loss carryover for the next few years. I filled out a loss carryover w.sh. for 2009 as a practice for myself because I never needed it before. While doing it looked like that I was reading too much into lines 6 and 10. E.g. line 6 says "Enter any gain from your Sch.D, line 15. If a loss, enter zero". "Any gain" threw me off.

I have to look namely at the number on line 15 of Sch.D and whether it's a positive or a negative, correct? And then I have to do the same with line 7 of Sch.D, right? This is interpretation #1.

I interpretted 'any gain' on line 15 of Sch.D as adding any gains above that line like one stock was sold at a LT gain (the rest at big losses) and then there's cap.gain distribution on line 13. This is interpretation #2.

So, I prepared this Loss Carryover w.sh. using both interpretations and concluded that the second interpretation didn't make sense mathematically.

Do you agree with me?
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