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March 4, 2025
Question

TurboTax did not apply the maximum limit of capital loss carryover $3000 for 2024

  • March 4, 2025
  • 1 reply
  • 0 views

I have more than 100k capital loss from 2023 and 3k more loss in 2024, but TurboTax applied $518 capital loss carryover for 2024.  What can I do to fix this issue or wait for TurboTax update?

 

Thanks,

Vinny_2024

1 reply

March 4, 2025

If you have a $3000 loss in 2024, it shouldn't be applying any of your carryover because you have already maxxed out the usable $3000.

 

Or did you actually only have a $2482 loss in 2024, so that is why it is applying $518?

March 4, 2025

Here is the detail of the issue  

- Capital loss in 2024: -$3137.44

- Capital loss carryover from 2023: -$102,247

- All capital losses used in 2024: $518

- Remaining losses forward to 2025: -$104,857

I need to understand why the capital losses used in 2024 is $518 instead of $3000.

March 4, 2025

How much other income do you have on the tax return?  If there isn't enough income to offset, it won't use up your capital loss.