TurboTax is calculating the capital loss carryover on 1099-B capital gains. I also have 1099-DIV and 1099-INT income. How can I change the capital loss carryover amount?

Forum|Forum|1 year ago
April 1, 2025
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I have short-term capital losses from prior years that I would like to apply to off-set the 1099-DIV and 1099-INT income received in 2024. The system is only calculating the 2024 carry over capital loss amount based on 1099-B gains/(losses) and ignores the 1099-DIV and 1099-INT income. How can I change the 2024 carryover amount so I can also offset the dividend and interest income?

AnnetteB6

Capital loss carryover amounts are first used to offset any current year capital gains. Then you are allowed to deduct a maximum of $3000 in capital losses per year, which will offset other income on your tax return.

Capital losses cannot be applied directly to offset income from interest or dividends.

To be sure that you have entered your capital loss carryovers from 2023, take a look at the instructions in the following TurboTax help article:

How do I enter my capital loss carryover?

What is a capital loss carryover?

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