Question

Turbotax 2019 not transferring capital loss carryover from 2018

Forum|Forum|6 years ago
March 1, 2020
8 replies
0 views

I've been using TurboTax for several years. This year (tax year 2019), when I get to the capital loss carryover section, there is no information populated from my 2018 return (even though there are non-zero numbers in my 2018 return), and it looks like I have to go into my 2018 form and enter this data manually. The instructions say "you don't have to do a thing" if you transferred data from a previous year, but clearly this is not the case.

BTW, in previous years (at least Turbotax 2017, 2018), there was another issue with the California capital loss carryover import: it would automatically transfer the CA AMT capital loss carryover from the prior year to *both* the regular and AMT carryover entries - I spent hours checking this two years in a row, and finally concluded this must be a Turbotax bug. This year, this seems to have gotten worse - nothing in showing up at all!

Are there others seeing these issues? What did you do to resolve them?

ColeenD3

You can manually enter the loss carryover. Open your TurboTax return, search for capital loss carryover, and then click the "Jump to" link in the search results.

We'll take you to the screen where you can enter that info from your prior year return.

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loochpolo

I have experienced this problem for years. Turbo Tax continues to ask if I had a carryover loss that I would like to use.

I am unsatisfied with going back to my previous year and digging up this information. The program has already downloaded the previous years information, WHY can't Turbo Tax download the previous years losses also?

I don't want to jump link the information. I have used Turbo Tax for years and this has bothered me every year. I am finally asking Turbo Tax to fix this issue.

Please Advise on this issue. It appears that there are many others with this problem.

Regards,

Loochpolo

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linaj20201

The information above is for federal purposes. Georgia does not follow Federal rules.

See TurboTaxHelp's article on how to enter your carryover losses. Click here: Carryover losses

For losses incurred in taxable years ending after December 31, 2017, Georgia follows the new federal laws relating to no carryback and unlimited carryforward of net operating losses and also adopts the 2-year carryback for farming losses and the 2-year carryback and 20-year carryforward for a certain insurance company. It does not follow the Federal rules, thus no carryover allowed.

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justmeandering4413

I purchased a new computer and the only way I could bring the 2018 tax return over was to reinstall the 2018 turbotax software. but it didn't pick up any data when I pulled it into the 2019 version. I need to have those figures as I have a loss on a property sale last year. Help!

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justmeandering4413

I am in Georgia not in California so this doesn't apply.

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kks1

My 2019 online is saying 2018 carryover is $80,000; 2019 capital loss used $3000; Carried forward to 2020 $80,000. 2018 carryover is actually $83,000 and 2019 used should be $3000. How do I get this to be correct.

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kks1

Sorry - it says $0 is used in 2019 and it should be $3000 - any help appreciated. I see others have similar issue.

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KAA2

Mine did not carry over either. I had to manually enter it. This is BS since that's what this program is meant for so that we don't have to keep track of all of this and then go back to an old return to lookup the carryover amount and then manually enter the numbers. Yes, we can enter it manually but we shouldn't have to!!! WTH!!! Turbotax, fix your product!!!!!

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royselinger

Wow, this is a major flaw I just discovered on October 16th after I filed my taxes !

I did not detect because I saw the $3000 loss but I have a major loss loss carry forward from 2018 that did

not flow into 2019 automatically.

I wonder should I amend the form 1040X and re-do the Schedule D entries ? Or just correct to the 2018 known numbers when I do 2020 return in a few months time ?

Critter-3

Amending is not needed ... correct this on the 2020 return.

What you can do is make the correction on the 2019 program so hopefully the correct carryforward happens next year.

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lyonden

I totally agree. IN fact, it isn't bringing up any of my personal info and even said I filed my taxes with someone else last year, which I didn't. I have used them for years but I think that may be changing next year. The locals are very good and by the time you pay for states and then electronic filing you don't save anything and may miss something that they will see and Turbotax doesn't. Mike Lyon

VolvoGirl

Employee

Turbo Tax wouldn't know or tell you if you filed somewhere else last year. It's common to end up with multiple accounts. First LOG OUT of whatever TurboTax account you're logged into right now. Then use this TurboTax account recovery website to get a list of user ID's for an email address. Run the tool against any email addresses you may have used
https://myturbotax.intuit.com/account-recovery/

If you used the Desktop CD/Download program then the only copy is on your computer and not saved or stored online.

You can also request a transcript from the IRS
https://www.irs.gov/individuals/get-transcript

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cjssr

That was my experience too. The instructions Turbotax gives for capitol loss carryovers does not work.

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Curious13

I have this issue with my 2019 taxes that became apparent when I entered my 2020 information. The question I have is do I have to refile my 2019 taxes to allow carryover to the tax year 2020? I