Tax Year Prior to 2020: I have a short term capital loss carry forward of $29,666 that i need to input on my return. how do i do that?

[KarenL2]

How to enter your loss carryover: While inside the software and working on your return, type carryover in the Search at the top of the screen (you may see a magnifying glass there).  There will be a popup that says Jump to carryover.  Select that to get to the general area.  

Here's how it works:  Short-term losses are first deducted against short-term gains, and long-term losses are deducted against long-term gains. Net losses of either type can then be deducted against the other kind of gain.  

If the net gain is short-term, then you pay short-term capital gains rates.  If the net gain is long-term, you pay long-term capital gains on that net.

If someone had an overall net capital loss for the year, they can deduct up to $3,000 of that loss against other kinds of income, including your salary and interest income. The remainder will carry forward to future years.

More information on capital gains/losses can be found at this link Capital Gains and Losses .

[227500]

Trying to input my carryover capital loss of $3000 on my 1040 federal tax form

[227500]

Not having any luck posting my carryover capital loss for $3000.

[Hal_Al]

If you used TurboTax (TT) last year, that usually happens automatically.  But you can enter it (or change the automatic entry) in the interview.

In TurboTax (TT), enter at:
- Federal Taxes tab (Personal in  Home & Business)

 - Wages & Income

Scroll down to:

-Investment Income

   -Capital Loss carryover