Deductions & credits

 

Thanks @Bsch4477 !

 

I updated TT 2022 with the 2022 FenSens loss ($500), who went out of business.  As I have a significant capital loss and so 2022 loss is limited to $3000.

 

Looks like I have to update TT 2023 with this increased in carryover loss. Again, the capital loss is significant and 2023 loss is limited to $3000.

 

Coming to 2024, there is capital gain which exceeds these carryover. And there is where this $500 will reduce my tax due.

 

Just to claim this $500 loss, do I really have to file an amended TT return for 2022 , 2023 and 2024 ???