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March 7, 2023
Question

Capital Loss Carryover

  • March 7, 2023
  • 1 reply
  • 0 views

bought new PC tower. Geeks did Data Transfer from old hard drive, but TurboTax files from 2014-2021 didn't transfer over.   will 2022 TT "carry over" my hefty losses accumulated from 2021 totals?

    1 reply

    VolvoGirl
    Employee
    March 7, 2023

    If you didn't transfer from the .tax2021 tax file then you will have to manually enter it.

     

    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

     

    Do you have a printout or pdf of 2021?  

    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.

    eamauAuthor
    March 7, 2023

    Thank you for that info, I'll go back to that section if I can.  (this old 75yo dinosaur isn't much of a techie!)  will try though.... thanks again.

    Ed