Get your taxes done using TurboTax

In TurboTax, in the upper right hand corner of the screen, click on the magnifying glass. This will open a search bar. 

1. Open your TurboTax return and search for capital loss carryover.
2. Click on the "Jump to" link in the search results.
3. Continue with the onscreen interview until complete.

Carryover losses on your investments are first used to offset the current year capital gains if any. You can deduct up to $3,000 in capital losses ($1,500 if you're married filing separately). Losses beyond that amount can be deducted on future returns as a capital loss carryover until the loss is all used up.