Clarification: This is about Schedule D and Form 8949. For 8949 (sell stocks) shows a gain much more than the 3000 allowable loss. My accumulated carryover loss over many years is in 10 times the gain. The net loss in Schedule D ends up being my "accumulated carryover loss" minus the current year's gains. Maybe it has something to do with the juggling of short and long term losses/gains. I ran some test cases: (1) Said I have zero carryover losses and the result seems correct (or more like what I expected) by using the full amount of my gains on form 1040. (2) Said I have -3000 carryover from the previous year and the results were identical to zero carryover (i.e. the -3000 was not applied). If I use the TT step-by-step method, the results are wrong - I'm not getting a refund that's half of all the taxes I paid last year. This problem is not surprising. Not a year has gone by that I didn't have to override TT manually to get a correct return. Anyone who just "believes" the numbers generated by TT (or any tax software) is taking a risk.
