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I bet it was probably the form generated by a'carryover tax loss'.

Yes, a carryover loss is probably not considered 'simple'.

I also checked the link that you provided, for free tax assistance, it is enticing. I like to understand the 'why' behind each step of tax filing, so have persevered with self filing. Although, as I age, that may change. :)

At least at my site, the taxpayer sits with the volunteer for the entire time that everything is being filled out, and then, sits with a quality reviewer to go over everything again before they sign and the return is filed. You can ask all the questions that you want. And if you really want to understand the details, you can volunteer to do taxes yourself, and get training.🤓

Since you were so patiently informative...I'm going to ask 1 more question, hoping you will respond: hubby & I are retired. Our earned income is only $3000, thus our taxable income ends up being ZERO. Should we still include the investment carryover loss of $5800? I'm concerned if I don't include this carryover loss, we will lose it--meaning lose the chance to use 'this loss' when we do have increased income from our 401K required minimal distributions.

Yes, you do need to claim it, or you will lose the rest of the carryover. If it was a $5800 carryover from last year, then you will only have $2800 left - so that you will probably use the rest of it this year.

AJ
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