Matt1of1
Returning Member

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.