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capital loss carryover from prior years

Can someone please explain step by step how to apply capital loss carryovers from prior years, as far back as 2014 for 2024?  I know how to find the capital loss carryover worksheet and I've already put in the schedule D information from 2023 but I need to put the schedule D info from the years prior to 2023.  Thank you!

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3 Replies
DavidD66
Expert Alumni

capital loss carryover from prior years

To manually enter (or edit) a capital loss carryover, open your return in TurboTax, Click on Search, and type in "capital loss carryover". Next, click on "Jump to capital loss carryover" in the search results.  The program will take you to the screen where you can enter your capital loss carryover.  If your return is already showing a capital loss carryover, click on "Edit"

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capital loss carryover from prior years

thank you, it only allows me to enter 2023.  How do I enter in years prior to 2023?

capital loss carryover from prior years


@lewallenrichcard wrote:

thank you, it only allows me to enter 2023.  How do I enter in years prior to 2023?


I'm a fellow user, not a tax expert, but in the interest of time I want to ask for more information.  Then hopefully tax expert @DavidD66  can tell you what you need to do after you explain some more about what happened in those years between 2014 and 2023.  

 

There aren't entries for separate years for capital loss carryover in the current tax year product because it should be re-figured every year and the capital loss carryover should be a "running total" (so to speak) from year to year.  In some years some (or all) of the capital loss carryover might be used up, while in other years there may be additional capital losses added to the total.    For instance 2014 capital loss carryover would normally be reported on a 2015 return, where it would be re-figured based on how much of it could be used up (or added to.)   Then the 2015 capital loss carryover would be reported on a 2016 return, where it would again be re-figured after any of it had been used or added to.  And then so on for each tax year.   Please explain in general terms what all happened in regard to capital loss carryover over those years between 2014 and 2023.    Did the carryover loss amounts go unreported each of those years?  i.e., was your capital loss carryover not reported contemporaneously in each of those years and re-figured each year?     If so, this may get complicated and above my paygrade of "fellow user."   But hopefully @DavidD66 or one of the other forum tax experts will further assist you.

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