The capital loss carry over is normally transferred to your 2024 tax return if you used TurboTax last year. If it is not carried over, you can enter it in TurboTax Online by following these steps: Click on Federal on the left-hand panel, then on Wages and Income Navigate to the list of income categories Locate the Investments and Savings section and click on the arrow on the right Click Start next to Capital loss carryover.

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Holidayinn98

Question

I am doing 2024 tax return but I have Stock loss huge in 2022 and 2023. where can I add those info to get $3000 more deductions?I didn't loss on 2024

Forum|Forum|1 year ago
March 26, 2025
2 replies
0 views

No text available

DoninGA

Employee

For a capital loss carryover -

Click on Federal Taxes (Personal using Home and Business)
Click on Wages and Income (Personal Income using Home and Business)
Click on I'll choose what I work on (if shown)
Under Investment Income
On Capital Loss Carryover, click the start or update button

Or enter capital loss carryover in the Search box located in the upper right of the program screen. Click on Jump to capital loss carryover

MinhT1

The capital loss carry over is normally transferred to your 2024 tax return if you used TurboTax last year.

If it is not carried over, you can enter it in TurboTax Online by following these steps:

Click on Federal on the left-hand panel, then on Wages and Income
Navigate to the list of income categories
Locate the Investments and Savings section and click on the arrow on the right
Click Start next to Capital loss carryover.

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Holidayinn98Author

with $3000 carry over dedution...I was expecting alot of tax return but why my tax return so little?
I only got about $510 on fed tax return and $420 on state return. combining total of little over $900 for tax return.

my income was $32000 and with -3000 it was 29,000 on my income.

I already paid all the taxes on my income...when I got W2.

did I miss someting? I was definetly expecting over $1000 of tax return I was thinking $2000 for tax return.. please help..I need those tax returns.

VolvoGirl

Employee

Did you have more carryover losses than gains in 2024? Or your carryover loss used up most of the 2024 gains.

You carryover the full remaining loss each year. Then you get to first offset the loss against any gains you have each year so that can use more of it up. Then after applying the loss to the current gains if there is still a loss, you can take a max loss of 3,000 per year.

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.

If you used the desktop version or have the complete pdf of your last year's return you might have the Capital Loss CO (carryover) worksheet that will tell you the amount.

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 worksheet. There might be 2. There is a Capital Loss 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.