You'll need to sign in or create an account to connect with an expert.
Type 'capital loss carryover' in the Search area, then 'Jump to capital loss carryover'.
You will come to a screen titled 'Did you have investment losses you couldn't claim in 2022'.
Choose YES, then on the next screen, you have a choice to choose YES, I know my Capital Loss Carryover amounts, or NO, I need help calculating my Capital Loss Carryover.
YES, gives a screen with ST Cap Loss/LT Cap Loss amounts that may have carried over from 2022, which you could delete.
NO will get a screen titled 'Let's get some info from your 2022 return', where you can then enter, edit or delete amounts from your 2022 return.
are you sure you really used it in 2022. if captal losses pushes your 2022 agi into negative territory, that negative amount is not used and becomes a carryforward for next year
Yes, I pulled out my 2022 tax documents and saw it was already used. 2021 shows the $3000 max amount used and 2022 shows the carryover. For some reason TurboTax is bringing it forward again for 2023, same amount. I qualify for free filing, but in order to edit the carry forward, I have to upgrade.
I did what’s described. Since I had no Capital loss carryover from 2022, so I entered zeros in all fields, but I still got the 2023 capital loss showed up on the Capital Loss Carryover Summary as Capital loss carryover from 2022.
we don't know what the c/f was from 2021 to 2022. Even though page 1 of the 1040 may show a capital loss. if 2022 adjusted gross income was negative that would mean some or all of the capital loss was not used and remains as a c/f to 2023. In the 2022 worksheets there should be one where the c/f to 2023 is computed. if it is zero there is a general c/f worksheet in the 2023 return where the c/o is reflected. those numbers would have to be corrected so the proper c/f is shown on schedule D.
I would be surprised that Turbotax made such an error.
there is a worksheet on page D-11 of the schedule D instructions so you can do your own computation for c/f from 2022 to 2023
https://www.irs.gov/pub/irs-pdf/i1040sd.pdf
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
JodyC2
New Member
prsajm
New Member
waynelappen
New Member
bill-combs
New Member
ahmednh1
New Member