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August 27, 2024
Question

Where in turbotax business or personal would you go to see if there is a loss carry forward from prior year?

  • August 27, 2024
  • 2 replies
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Where in turbotax business or personal would you go to see if there is a loss carry forward from prior year?

    2 replies

    VolvoGirl
    Employee
    August 27, 2024

    I don't know about the Business program but for personal.......

     

    Schedule D doesn't actually show the carryover amount. To find your Capital Loss Carryover amount you need to look at your return schedule D page 2. Line 16 will be your total loss and line 21 should be a max loss of 3,000. The difference between line 16 and 21 is the carryover loss.


    If you used the desktop version or have the complete pdf of your last year's return you might have the Capital Loss CO (carryover) worksheet that will tell you the amount.

     

    In the Online version you have to save your return with all the worksheet as a pdf file to your computer to see the Capital Loss carry over worksheet. There might be 2. There is a Capital Loss Carryover Worksheet showing the carryover from the prior year and the current amounts. Then there is also the Capital Loss Carry Forward worksheet showing the amount transferring over to next year.

    August 27, 2024

    There are many kinds of loss carryforwards.  What kind of loss carryforward are you referring to?