How to enter spouses capital loss carryover for a new joint file return

[r-yttri]

First time filing jointly. 

How do I establish my spouses capital loss carryover in my existing Turbo Tax?  Assume I would need a separate Capital Loss Carryover worksheet established for the spouse.

[Coleen3 · Accepted solution]

You will need to enter it manually. If you also have a loss carryover, they will be combined for a maximum 2018 loss of $3,000 on your joint return.

If you transferred last year's TurboTax return over, you don't have to do a thing – we've already entered it for you.

Otherwise, just open your TurboTax return, search for capital loss carryover, and then click the "Jump to" link in the search results.

We'll take you to the screen where you can enter that info from your prior year return.

[r-yttri]

How is that done?  The capital loss for my spouse needs to be entered in for her only as I can not use her prior loss against my gains and it needs to be tracked separately for her use only going forward.  The capital loss carryover worksheet has a check box for Taxpayer, Spouse or Joint.  I need one established for "spouse".  I have one established now for Taxpayer for me.  Maybe If I changed my existing Cap loss carry over sheet to joint it would give me more options.

[r-yttri]

To be clear here,  this is a new marriage and my spouses capital loss carryover is prior to our marriage

[r-yttri]

Or do I have it wrong and we can use her old Cap losses for us since we file jointly now even though she incurred them when we were not married?

[Coleen3]

That is my theory. I am double checking to be sure.

[Coleen3]

 Both TP and SP loss ends up on the same worksheet, so in the end, $3K of the loss will end up on sch D.

[r-yttri]

I used the override function (right click and select override) to edit the cap loss carryover amount from the prior year in this years combined worksheet and it looks correct now.  Also unchecked the "taxpayer" box and checked the "jointly" box.

[Coleen3]

Good!