Hello, in 2019 I had net losses with my investments and I did not have enough income to file taxes. Can I apply for capital loss carryover?

[Marco_M]

TurboTax is asking me for my 2019 form 1040 but I don't have it!
In 2020 I had a good income and I am filing taxes.

Thanks. 🙂

[Critter-3]

Find a copy of the 2019 return with the worksheets to see the amount that is being carried forward to 2020. 

[npierson7 · Accepted solution]

If you didn't file your 2019 tax return, then for the IRS you didn't have any losses. What you can do - file your 2019 taxes now, there is no penalty for not filing your tax return timely if your income was below 2019 filing requirements. Find out your loss and applicable carryover amount, then you can use it for your 2020 taxes return. 

You can use TurboTax to file your 2019 tax return:

Prior years tax returns 

[Marco_M]

As I said I don't have a 2019 return as I did not pay taxes having less than the minimum taxable income that year.

[Critter-3]

But to report the losses to carry them forward you must file a 2019 return.