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April 28, 2021
Question

Where do I insert a carryover Capital Gain loss? I have reported a loss of $3,000 per year from Schedule D. I have a net balance to deduct of $41,121.

  • April 28, 2021
  • 2 replies
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2 replies

April 28, 2021

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.

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rjs
Employee
April 28, 2021

In the Search box type "capital loss carryover" (without the quotes), then click the link that says "Jump to capital loss carryover." When it asks whether you know your capital loss carryover amounts, select "No, I need help figuring out my capital loss carryover amounts," even though you think you know the amount. Then enter the information it asks for from your 2019 tax return that is needed to calculate the amounts to carry over to 2020.