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Investors & landlords
If you had a Capital Loss Carryover from 2008, that amount would be carried over each year for a deduction of 3K each year, until the loss is used up.
You would see the Long Term Capital Loss Carryover each year on Schedule D, Line 14, with calculations shown on the Capital Loss Carryover Worksheet, Line 13. You can enter your amount directly in FORMS mode, or you are asked in the Step-by-Step interview under Investment Income > Capital Loss Carryover.
TurboTax asks for info from your 2023 return to help calculate your 2024 carryover, but you could review your prior year returns Schedule D to verify how it carried over each year.
Here's more info on How to Enter a Capital Gain or Loss and Capital Loss Carryover.
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‎February 13, 2025
2:12 PM