If I have a capital loss of more then $3000 does turbotax is there anything specific I must do to ensure I only deduct the allowable $3000 or is this done automatically?

Forum|Forum|6 years ago
June 4, 2019
1 reply
0 views

No text available

TurboTax Premier Online

Best answer by MinhT1

If you have capital losses of more than $3,000, TurboTax will automatically deduct $3,000 from your ordinary income and carry forward the balance. You do not need to do anything.

MinhT1Answer

If you have capital losses of more than $3,000, TurboTax will automatically deduct $3,000 from your ordinary income and carry forward the balance. You do not need to do anything.

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"

Jfresh20Author

Employee

Appreciate the response, So the amount it will carry forward is automatically carried over to next year? I don't have to keep track of these numbers myself?