I forgot to include the carryover long term capital losses from 2014. Now I am filing the 2016 taxes, using TurboTax, how can I include the long term losses?
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NYNC2
New Member

I forgot to include the carryover long term capital losses from 2014. Now I am filing the 2016 taxes, using TurboTax, how can I include the long term losses?

When reporting 2015 taxes using TurboTax, I forgot to include long term capital loss carryover from 2014.  Can I use the long term capital carryover in filing 2016 taxes?  Or do I need to amend 2015 taxes to show long term capital loss carryover before I use it in 2016?

1 Reply
MichaelL1
Level 15

I forgot to include the carryover long term capital losses from 2014. Now I am filing the 2016 taxes, using TurboTax, how can I include the long term losses?

You should amend the 2015 return as $3,000 can be used there first or more as it can first offset capital gains for that year.

In TurboTax to enter it, you do the following:


Click on Federal Taxes

Click on Wages and Income

Click on I'll choose what I work on

Scroll down to Investments

On Capital Loss Carryforward click the start or update button

I would first amend the 2015 return to have the correct amount of the carryforward.

See below for amending:

https://ttlc.intuit.com/replies/3288565

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