I had investment losses of $30,000 this year (Ouch). But, when I enter the information (importing it directly from my E-Trade account), the Capital Losses do not reduce my taxes owed by even a penny! Nothing! I am self-employed (for the last 3 years) and make my quarterly estimated tax payments, but always have about $2,000 or so left to pay when I file my taxes. I realize that you can only deduct $3,000 of investment losses a year, and the rest is a Capital Loss Carryover. But, my $30,000 of loss means I have 10 years of a worthless $3,000 deduction?? That can't be right. I am using the Turbo Tax Home & Business 2022 software. Please help. Thank you.
