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May 18, 2025
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Turbotax 2024 won't accept correct Capital Loss Carryover

  • May 18, 2025
  • 2 replies
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See the two pictures below. The first one shows that I've input the capital gains/ losses carryovers from 2023 return. Second, see how Turbotax interprets it and sets them to zero. This is a bug!!

 

Capital loss carryovers entered:

Turbotax doesn't recognize the above and uses zeroes:

FYI- I didn't do my 2023 return with Turbotax.

Best answer by VolvoGirl

If you didn’t use Turbo Tax for 2023 you need to manually enter any carryover loss.   Is the top screen from your actual 2023 return?   That shows gains, not losses.  Do you need to enter the 5782 and 524 as Losses? They don’t have a minus sign - on them.  

2 replies

VolvoGirl
VolvoGirlAnswer
Employee
May 18, 2025

If you didn’t use Turbo Tax for 2023 you need to manually enter any carryover loss.   Is the top screen from your actual 2023 return?   That shows gains, not losses.  Do you need to enter the 5782 and 524 as Losses? They don’t have a minus sign - on them.  

May 18, 2025

Thank you! The screens I posted are from the 2024 return. I had not put a negative sign on the losses.

May 19, 2025

the instructions say capital losses from 2023 need to be entered as negatives

 

so 5742 indicates a short-term capital gain and the 542 indicates a long-term capital gain. Thus there is no CLCO from 2023 to 2024. if either or both are losses you need to enter them as negatives