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April 11, 2022
Question

Have capital loss carryover in 2020 using anotherprogram. How to enter in 2021

  • April 11, 2022
  • 3 replies
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3 replies

April 11, 2022

If you transferred last year's TurboTax return over, you don't have to do a thing—we've already entered it for you.

 

Otherwise, just open your TurboTax return, search for capital loss carryover, and then select 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.

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April 11, 2022

you should also be asked about any carryover when going through the investment income section of the return

 

VolvoGirl
Employee
April 11, 2022

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

You enter the full amount that carried over, not just the 3,000

 

The 3,000 is just the max loss you can claim each year AFTER offsetting any gains you have.  So you might use more of it up in one year.