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In the past we have filed a form 1040 Schedule D Capitol Gains and losses. We lost $35083.00 . we have been taking a $3000. loss . Where does this go on turbo tax?

Forum|Forum|6 years ago
February 16, 2020
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TurboTax Deluxe Online

Best answer by AlanT222

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.

Related Information:

A

AlanT222Answer

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.

Related Information:

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VolvoGirl

Employee

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 you can take a max loss of 3,000 (1,500 MFS)per year. Turbo Tax does all the calculations for you. Just enter the prior year carryover amount.

If you transferred your prior return it should be already filled in.

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

It's now on the new Schedule 1 line 13 which goes to 1040 line 6.