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New Member
posted Apr 18, 2023 12:51:18 AM

I've entered my info into TT, but it doesn't appear that any cap loss carryover was used. I have no more capital gains because I don't own any securities now.

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1 Replies
Expert Alumni
Apr 18, 2023 3:16:36 AM

I suggest you do two things:

  1. Check to see if you have a Capital Loss Carryover posted.
  2. Preview your 1040 tax return and see what is posted.

You can post your Capital Loss carryover:

  1. Start at Federal
  2. Wages & Income
  3. Scroll down to Investment Income.
  4. Select Capital Loss Carryover from the drop-down menu.

You can preview your tax return by going to:

 

  1. On the menu bar on the left that shows.
    1. My Info
    2. Federal
    3. State
    4. Review
    5. File
  2. Select Tax Tools
  3. On the drop-down select Tools
  4. On the popup menu
  5. Select View Tax Summary
  6. On the left sidebar
  7. Select Preview my 1040.
  8. Line 7 is Capital Gain/Loss
  9. Schedules 1,2&3 are included if you scroll down past your 1040.
  10. To return to the entry screens press Back on the sidebar.

Some key numbers on your 1040 tax return are:

Line 15 - Taxable Income

Line 24 - Total Tax.

Line 25 - Withholdings.

Line 33 - Payments including Credits.

Line 34 - Overpayments.

Line 37 - Tax owed.

 

If you need it, this is some guidance to file an extension.

This will give you until October 16th, 2023 to file your tax return.

 

On the sidebar go to:

  1. Tax Tools
  2. Then select Tools
  3. In the four green boxes select Tax Topics
  4. Type extension
  5. Need More Time to File Your Return?
  6. Select Start Easy Extension
  7. This will give you until October to file.

TurboTax file an Extension