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the capital loss carryover from last year

Forum|Forum|3 years ago
December 6, 2022
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My capital loss carryover from last year simply gets added to my capital loss of this year correct ? (and yes everything is below 3K, I know about that, no need to mention that)

If I do not change software, I guess the software knows that I have a this carryover form last year right? But if I change software I need to tell it to the software myself correct? And which tax form and what line I will enter this capital loss carryover form last year?

Not A Product Question

Best answer by Anonymous_

If you prepared your 2021 return with a 2021 version of TurboTax, your carryover should transfer to the 2022 version (as is the case with most DIY tax preparation software).

If you change software, you will almost certainly have to enter the carryover manually and can use the worksheet below for that purpose.

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A

Anonymous_Answer

Employee

If you prepared your 2021 return with a 2021 version of TurboTax, your carryover should transfer to the 2022 version (as is the case with most DIY tax preparation software).

If you change software, you will almost certainly have to enter the carryover manually and can use the worksheet below for that purpose.

Untitled.png

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abtb00Author

so the capital loss carryover can combine apples to apples with my this years capital loss right? and what line on this sheet you showed I will enter the capital loss carryover from last year?

But my capital loss plus carryover will be consumed by my income this year entirely. in that case is this form still attached / used?

Critter-3

so the capital loss carryover can combine apples to apples with my this years capital loss right? and what line on this sheet you showed I will enter the capital loss carryover from last year? ALL cap losses & gains from the prior tax year + the current are netted out on the Sch D.

But my capital loss plus carryover will be consumed by my income this year entirely. in that case is this form still attached / used? The carryover amount is transferred to the current year Sch D and if it is totally consumed there will be no loss to carry forward. The worksheet you were shown in the other answer was so that you know where to find the prior year carryover loss if you have to go looking for it ... it was for informational purposes only and is not attached to the new year's return.

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Mike9241

Turbotax will do the transfer of the c/o despite the version but if you go from desktop to online or vice versa make sure the tax file XXX.tax2021 is available so the info transfers. if you use a different brand then it's up to you to enter it in the correct form.