I have $472k in capital loss carryforwards. this year i will have another $11k in short and long term losses, & $14k in long term gains. how will this show on my return

[Anonymous]

will all the gains be absorbed by the capital loss carry forward, and will I be able to take the $3k capital loss?  Will the $11 thousand in new losses be added to the $472?

[Critter · Accepted solution]

will all the gains be absorbed by the capital loss carry forward, and will I be able to take the $3k capital loss?

Yes ... exactly.  472 + 11 - 14 = 469 - 3 used = 466 to carry forward

[phwint7]

where and how do I enter into TurbpTax Premier?

[Critter]

Just enter the current year sales and the program will do the rest.   If you have used the TT program the prior year and you transferred the info then the loss carryover came as well.. if not then watch for the place to enter that in the same section as the sales.

[Anonymous]

thank you!

[Hal_Al]

The -11K  will be combined with the +14K and the -472K for a new net loss of  -469K. You will deduct $3,000 of your 2017 return and carry a $466,000 long term loss to 2018