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Get your taxes done using TurboTax
I have the exact same issue. I'm using Turbotax Online.
On the loss carryforward page:
Capital loss carryover from 2020: -$XX,XXX.00
Capital loss used in 2021: $XX,XXX.00
Loss carried forward to 2022: $0.00
When I click continue: "Nice work! You just got yourself a tax break." 2021 Capital Loss Carryover. We hope this $XX,XXX.00 tax breaks gives you a boost."
When I click done and look at "Your Income and expenses":
2020
Capital Loss Carryover: -$XX,XXX.00
2021
Capital Loss Carryover: $0.00
I believe I should be using -$3,000 of losses in 2021 and have a balance of $XX,XXX.00 - $3,000 to carryover to 2022. Please show me what I am missing.
‎April 13, 2022
8:33 PM