Turbo tax says i need to ugrade to premium because of capital gains losses. I have none this year. I had crypto losses the previous tax season, none this season
Turbo tax says i need to ugrade to premium because of capital gains losses. I have none this year. I had crypto losses the previous tax season, none this season
If you transferred last year's return over, we automatically include the carryovers. Check your 2021 return to see if you have have a carryover loss. To see if a carryover loss got transferred from last year:
Open your TurboTax return, search for capital loss carryover, and then click the "Jump to" link in the search results. The amount should be listed on the following screens.
Carryover losses on your investments are first used to offset the current year capital gains if any. You can deduct up to $3,000 in capital losses ($1,500 if you're Married Filing Separately). Losses beyond that amount can be deducted on future returns as a capital loss carryover until the loss is all used up.