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I had a Capital Loss in 2014. I claimed a carry over in the years 2015-2017 but failed to claim it in 2018 and 2019. Can I claim it in 2020?

 
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1 Best answer

Accepted Solutions
JohnB5677
Expert Alumni

I had a Capital Loss in 2014. I claimed a carry over in the years 2015-2017 but failed to claim it in 2018 and 2019. Can I claim it in 2020?

Not yet.  You can go back and amend your 2018 and 2019 returns, and then if there is anything left you can claim it in 2020. 

 

To amend a return 

Some quick ground rules:

  1. Be sure the original return was filed and accepted.
  2. Save the original return before you start the amendment
  3. Change the name of the amended return.
  4. DO NOT go back into the return or change anything before you start the amendment process.
  5. Gather everything you need before you start.
  6. Complete the entire amendment process before you log out.
  7. Starting with 2020 tax returns you can E-File a 1040-X amended tax return.  All prior years must be printed and mailed.

 You can correct a return that you've already filed and had accepted.  Select the year that applies and use this guide to proceed.

Select your tax year for amending instructions:

For additional information please refer to  How to Amend

 

The 1040X (Amended Return) tax form for 2020 is scheduled to be available 03/25/2021.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

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1 Reply
JohnB5677
Expert Alumni

I had a Capital Loss in 2014. I claimed a carry over in the years 2015-2017 but failed to claim it in 2018 and 2019. Can I claim it in 2020?

Not yet.  You can go back and amend your 2018 and 2019 returns, and then if there is anything left you can claim it in 2020. 

 

To amend a return 

Some quick ground rules:

  1. Be sure the original return was filed and accepted.
  2. Save the original return before you start the amendment
  3. Change the name of the amended return.
  4. DO NOT go back into the return or change anything before you start the amendment process.
  5. Gather everything you need before you start.
  6. Complete the entire amendment process before you log out.
  7. Starting with 2020 tax returns you can E-File a 1040-X amended tax return.  All prior years must be printed and mailed.

 You can correct a return that you've already filed and had accepted.  Select the year that applies and use this guide to proceed.

Select your tax year for amending instructions:

For additional information please refer to  How to Amend

 

The 1040X (Amended Return) tax form for 2020 is scheduled to be available 03/25/2021.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

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