Capital Loss Carryover.

Forum|Forum|1 year ago
March 4, 2025
1 reply
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Did TurboTax fix the system issue of populating the capital loss carryover with the incorrect number? Is there a way to manually override this? I called TurboTax twice and have not gotten help to get my taxes fixed. Thnx.

MAK70

Under Federal- Wages & Income on the left panel, go to the Capital Loss Carryover under Investments and Savings.

You should see the Info from your 2023 return- if you used TurboTax in 2023. You can click on Edit and make the necessary changes.

Auto1Author

Thank you for responding. The numbers from 2023 are correct. The carryover amount used in 2024 shows the total remaining loss instead of $3,000 and it shows $0 remaining losses carried into 2025 when there should be a balance. Is there a way to fix what is being applied? Thanks much!

PatriciaV

Employee

You may wish to review the forms and worksheets in your return to understand how the capital loss carryovers were used on your current return. In general, numbers on these forms are calculated by TurboTax and cannot be changed without invalidating the return for e-filing. Those that can be changed are in a yellow box with a blue font (only in TurboTax for Desktop).

Schedule D Part II shows the calculation of long-term capital losses. The summary of what will be applied to your current income is in Part III.

Capital Loss Carryover Worksheet (not an IRS form) shows how the Capital Loss Carryover was used this year.

Capital Loss Carryforward Worksheet (not an IRS form) Line 13 shows the actual capital loss carried forward to next year.

If you need to print/preview these forms, please see: How do I get a PDF of my return?

Additional Information for TurboTax for Desktop:

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