HelenC12
Expert Alumni

Investors & landlords

No, there isn't a reported "bug" in TurboTax.

 

Do you have more than one account with TurboTax? Did you perhaps open the wrong account file?

 

Otherwise, review your carryover amounts that TurboTax is reporting. For the current year capital loss carryover just open your TurboTax return, search for capital loss carryover, and then click the "Jump to" link in the search results.

 

You can also find the carryover amount on the 2022 income tax return, look on Schedule D:

  1. Lines 6, Short-term capital loss carryover, and
  2. Line 14, Long-term capital loss carryover. 

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.
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