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skampbel
New Member

cannot manually enter capital loss carryover

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.

 

"Here's what we have. This is info about your capital gains and losses. You can make changes to this later.
Info from your 2023 tax return
 
Net short-term capital gain/loss
$0.00
Net long-term capital gain/loss
$0.00
Allowable loss
$0.00
Income before exemptions
$0.00
Net AMT short-term capital gain/loss
$0.00
Net AMT long-term capital gain/loss
$0.00
AMT allowable loss
$0.00
AMT taxable income
$0.00"
 
This is the next screen:
"Here are your capital loss carryover amounts
We'll use this to see if you're able to offset your income.
  Total
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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1 Reply
MindyB
Expert Alumni

cannot manually enter capital loss carryover

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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