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.
Since this is the first year you are filing you should not have an Capital Loss carried forward from a previous return.
You can just delete the form Schedule D, Capital Gains and Losses,
Here's the general procedure for viewing the forms list and deleting unwanted forms, schedules, and worksheets in TurboTax Online:
- Open or continue your return in TurboTax.
- In the left menu, select Tax Tools and then Tools.
- In the pop-up window Tool Center, choose Delete a form.
- Select Delete next to the form/schedule/worksheet in the list and follow the instructions.
-for more information on Capital Gains and Losses follow this link-
Capital Gains and Losses - TurboTax Tax Tips & Videos
Topic No. 409 Capital Gains and Losses | Internal Revenue Service
