I could not figure this out last year when I had to start a new TurboTax account due to divorce, so my capital loss carryover was not automatic. I tried to enter my capital loss manually but was not given the option, and I am again having this problem this year. Last year, I just had to submit it without ever entering my capital loss. When I navigate to the capital loss carryover section, it only shows me the 2023 carryover information.
Capital loss carryover from 2023 | $0.00 |
All capital losses used in 2024 | $1,103.00 |
Remaining losses carried forward to 2025 | $0.00 |
It does not provide an option to manually enter the capital loss carryover from previous years. Any idea how to enter this?
Thanks!
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You should amend 2023 return to correct the error.
For 2024, navigate to Federal > Wages & Income > Capital Loss Carryover > Edit. Next , you'll see what was reported on 2023, choose to Edit. Now, you can adjust the amount from 2023 to create the correct carryover.
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