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Where can I enter Capitol loss carryover from last year manually? I was not using turbotax in 2017 & I have not yet mailed my 2017 return 2 IRS, but I know the $ amounts

Forum|Forum|7 years ago
June 5, 2019
3 replies
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Where do I enter the short term capital loss carryover $12,000 and the yearly loss deduction of $3,000 that is allowed every year? I forgot to put it in or did not see it, but I have not filed or mailed my 2018 return yet. P.S. I just did also my 2017 2 weeks ago but also have not yet mailed it in, but was done with another tax program.

TurboTax Free Edition Online

Best answer by KittyM

In your Federal return type "capital loss carryover" in the Search Box in the upper right corner of your TurboTax screen, then click the "Jump to" link. This will take you directly to the location to enter your capital loss.

(Please note the spelling difference in "capital". It's crucial to finding the "Jump to" link you need.)

K

KittyMAnswer

Employee

In your Federal return type "capital loss carryover" in the Search Box in the upper right corner of your TurboTax screen, then click the "Jump to" link. This will take you directly to the location to enter your capital loss.

(Please note the spelling difference in "capital". It's crucial to finding the "Jump to" link you need.)

P

ptk515Author

I followed your recommended answer and it worked to a point, when I did it, it took me to this answer: Schedule D is required by the IRS to report your investment income or losses, which is not covered by TurboTax Free Edition. So just to put in the $ amount I know, Turbo Tax says I have to pay for a Schedule D. I have been deducting this amount every year and nothing needs to be explained to IRS only put in the $3,000 tax deduction from the original amount and I know both $ amount so I don't see why I should pay for this, it's a rip off. Unless it was a new deduction and I would have to go through a bunch of questions, but it is a yearly same amount deduction. Unless there is a way to enter in the FREE TurboTax I will have to go with another software program where it allows me to do it for free. Let me know.

VolvoGirl

Employee

In order to use the Free File program, you have to start it at a special website. Click on the bottom Orange button I Qualify Start Now and set up a NEW account

http://turbotax.intuit.com/taxfreedom/

Do not sign in at the top. Use the bottom I QUALIFY START NOW

and set up a new account or it will take you back to regular Turbo Tax.

How to switch to Tax Freedom

https://ttlc.intuit.com/replies/3491786

VolvoGirl

Employee

You will need to use the Online Premier version or Self Employed version to enter that. Or any of the Desktop CD/Download programs.

Another way to get there
Enter a Capital Loss Carryover under
Federal Taxes or Personal (Home & Business)
Wages and Income
Then scroll down to Investment Income
Capital Loss Carryovers - Click the Start or Update button