My capital loss carryover is not coming in correctly. Is anyone else seeing this issue?

[MinhT1]

If you know your capital loss carryover, you can enter it in TurboTax.

To do this, please follow these steps:

1. Click on Federal on the left-hand panel, then on Wages and Income
2. Continue and  locate the Investment Income section
3. Click Show more and click Start next to Capital loss carryover.

[VolvoGirl]

A carryover loss from 2021?  What's wrong with it?  

If you have a negative AGI or negative taxable income it will show up on 1040  BUT it won't reduce the carryover to the next year.

You might want to check the worksheets.  To find your  Capital Loss Carryover amount  you need to look at your  return schedule D page 2.  Line 16 will be your total loss and line 21 should be a max loss of 3,000.  The difference between line 16 and 21 is the carryover loss for next year.

There is also a Carryover Worksheet showing the carryover from the prior year and the current amounts.  Then there is also the Capital Loss Carry Forward worksheet showing the amount transferring over to next year.

In the Online version you have to save your return with all the worksheet as a pdf file to your computer to see the Capital Loss Carry Over and Carry Forward worksheets.

[chrisysharbo]

Yes I am.  I have less than $3000 in capital loss and 2022 Premier edition won't let me take the whole loss in 2022.  I wants to carryover a portion of it to 2023, which I rather take it all in 2022.  In chatting with Turbo Tax online, I was told it was a known issue but apparently they told think its worth doing an update.   Very frustrating.

[GeorgeM777]

If you have not already done so, finish your return.  Then return to the Capital Loss Carryover section under Investments and Savings and see if there is a carryover amount.  We assume you have enough income to offset the full amount of your capital loss.   If TurboTax continues to carryover part of your capital loss when all of it should be used to offset your income, please follow-up with additional information.   

@chrisysharbo 

[foxy1]

I am about to efile my tax return (all reviews completed) but I see that my Capital Loss Carryover worksheet has NOT been filled out and there is no entry on Sched D line 21 even though I had carryovers in prior years. Is there a problem here? Can someone tell me how to post a new question?

[JulieS]

You can enter your capital loss carryover manually. Normally, this is carried forward for you by TurboTax, but in some circumstances you may need to enter or adjust it manually. 

To enter or adjust your capital loss carryover, you will need your tax return from 2021. If you have amended the return, be sure to use the amended version. 

1. Select Federal from the left side menu.
2. Select Wages & Income.
3. Scroll down and look for Investments and Savings, expand the section.
4. Click Start or Revisit to the right of Capital Loss Carryover.
5. Answer the first question Yes.
6. Enter the numbers from your 2021 return.