Great idea calculating cumulative balances for capital gains from AFR data! Has already helped in a couple returns, although I appear to be reviewing one with a glitch. The cumulative balance is negative but it still wants to be carried over to the NetCapLoss worksheet:
When I quickfix the review message, the negative balance is carried to the NetCapLoss schedule and does some odd things:
And if I click the cell:
This doesn’t appear to be the intended operation for this function?
The negative balance in this case comes from the amount of loss from a prior year (column (b)) applied in 1986. We have noticed from this and, a few other examples that we received over the last couple days, that CRA data is incomplete or, better phrased, does not include data prior to 1985 but does include losses incurred prior to 1985 that are claimed in 1985 or later.
In our upcoming update, we will be removing the message with the QuickFix when the balance is negative and will be prompting to verify the client’s latest NOA.
Thanks for the extra example!
No problem, thanks Allen!
