Capital loss carryover

Forum|Forum|4 years ago
November 28, 2021
18 replies
89 views

I had capital loss carryover on my 2019 taxes that did not get entered in my 2020 taxes. This amount would have no affect on my 2020 taxes as I had more capital losses and received the standard $3000 for losses. Do I need to amend my 2020 taxes to add the 2019 carryover loss or can I wait to add to 2021 taxes?
If I need to amend 2020 taxes- I did not see anywhere on the 1040x amendment form to do for capital loss carryover nor did I find anything on the IRS instructions to amend taxes for not listing past capital loss carryover.

help please!

Not A Product Question

Critter-3

Level 15

Yes you should amend the 2020 return if for nothing else but to produce a correct 2020 return to transfer to the 2021 program. And it should be filed with the IRS as well.

However if you already started the 2021 return then look for this entry screen in the investment section (screenshots are from the 2020 program but it will be the same for the 2021 program) :

Muse9876Author

Level 4

Well I can file an amendment through turbo tax because it keeps glitching, so I was going to use the form 1040x and mail it in, but I see nothing on that form or in instructions to correct a capital loss carryover.

In the screen shots you provided - when I do file my 2021 taxes (I haven’t started yet) I can included the carryover loss from 2019 as failing to provide on my 2020 tax return?