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2023 taxes. Shedule D line 16 is -5965 and line 21 is -3000. can i claim the difference on my 2024 taxes

 
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DianeW777
Employee Tax Expert

2023 taxes. Shedule D line 16 is -5965 and line 21 is -3000. can i claim the difference on my 2024 taxes

Yes, this is a capital loss carryover because you were unable to use it up in 2023 due to the $3,000 limitation.

 

TurboTax should carry this forward to your 2024 return where the remaining loss will be used against other possible gain transactions in 2024.  If that is the case it will first be used against gains and then if an overall loss does occur again in 2024, you will see the results on your 1040. Use the steps in the link below to review your return and add the carryover from 2023 if necessary.

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