@kswest4 How much in on 1040 line 7? It can only be the max loss of 3,000 unless you had a net gain. Yes You do carry over and apply ALL the carryover loss from 2023. You must have had some gains in 2024 to use up the 2023 Capital Loss Carryover .
You get to first offset the loss against any gains you have each year so that can use more of it up. Then after applying the loss to the current gains you can take a max loss of 3,000 (1,500 MFS)per year. Turbo Tax does all the calculations for you. Just enter the prior year carryover amount.
You have to report the carryover every year until it's used up. You can't skip a year. Even if you don't report it on your return you have to reduce it by the 3,000 (1,500 MFS) when you carry it over to next year. You can't choose when to use it.
If you have a negative AGI or negative taxable income it will show up on 1040 BUT it won't reduce the carryover to the next year.
