OrrTax to TaxWise Conversion

[Don in Upstate NY]

One problem that I've noticed in converting my 2007 OrrTax returns to 2007 TaxWise returns is in the Capital Loss carryovers.

The conversion program picks up the carryover from the OrrTax Schedule D as a negative number, and inserts that into the TaxWise Schedule D. Unfortunately, TaxWise wants the carryover loss as a positive number, so putting a negative number into there makes it a carryover GAIN instead of a loss.

The other thing that seem to get lost is the short vs long term designation for stocks with 'various' as a buy date. They seem to all come over as long term.

Don

[chief]

One problem that I've noticed in converting my 2007 OrrTax returns to 2007 TaxWise returns is in the Capital Loss carryovers.

The conversion program picks up the carryover from the OrrTax Schedule D as a negative number, and inserts that into the TaxWise Schedule D. Unfortunately, TaxWise wants the carryover loss as a positive number, so putting a negative number into there makes it a carryover GAIN instead of a loss.

The other thing that seem to get lost is the short vs long term designation for stocks with 'various' as a buy date. They seem to all come over as long term.

Don

Thank you for pointing these out. Iconverted from TaxSlayer to Taxwise. I will check these areas for possible corrections to my own conversions.