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How can I find what capital losses I have left for all prior years

Carryover losses left for past years. How do I see what is left?
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1 Reply
rjs
Level 15
Level 15

How can I find what capital losses I have left for all prior years

You are supposed to have carried over the capital losses on your tax returns from year to year, so that your 2024 tax return would show all the loss that is left to carry over to 2025. If you used TurboTax every year, it would automatically carry over the losses from year to year. When you start your 2025 tax return it will automatically show the remaining carried-over losses on Schedule D lines 6 (short-term) and 14 (long-term).


If you did not carry over the losses from previous years you would have to go back to your tax returns for all of the earlier years, starting with the first year that you had a capital loss, and recalculate the correct capital loss carryovers for each year until you get to 2024. You have to do this for every year, including years that you did not have any new losses, because part of the loss can be used up in a year that you did not have any new losses.


If you need to calculate the capital loss carryovers by hand you can use the Capital Loss Carryover Worksheet in the IRS instructions for Schedule D for the appropriate years.

 

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