which line is for Capital Loss Carryover on 1040

Forum|Forum|4 years ago
February 27, 2022
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not line 13 on 1040, not line 16 on schedule D also, line 16 on schedule D just the lose you have for the year you filling, not Capital Loss Carryover so far, i want to know a line for Capital Loss Carryover over the years,

Best answer by Mike9241

capital loss carryovers appear on line 6 and or 14 of schedule D. if you had them form 2020 and they are not appearing on the lines they need to be entered in the carryover worksheet. if you didn;'t use Turbotax in 2020 you should have come across questions about these as you were going schedule D unless you skipped over it.

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.

Mike9241Answer

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.

samguanaAuthor

where is the carry over worksheet

VolvoGirl

Employee

The current year carryover loss from the prior year is on schedule D line 6 & 14.

On the income page The 2021 column shows the carryover to 2022 (not your current loss for 2021). 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 for next year.

There is also a 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.

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 and Carry Forward worksheets.

In the Desktop program you can go to Forms and find it in the list in the left column.

If you have a negative AGI or negative taxable income it will show up on 1040 BUT it won't reduce the carryover to the next year.