@WASTE1226 said "FOR MY 2020 TAXES, I HAVE A $7000 CAPITAL LOSS CARRYOVER FROM 2019 AND TURBOTAX IS USING THE TOTAL AMOUNT AGAINST MY GAINS IN 2020 INSTEAD OF A MAX OF $3000."
Yes, that's exactly what is suppose to happen. Your entire capital loss carry forward is applied to current year gains (long term and/or short term). Only if there is still some capital loss left over does the $3000 limit apply.
Another way to say it: there is no limit on how much capital loss can be applied against gains. The $3000 limit is when using capital losses to offset ordinary income.
