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lynnmflanagan
New Member

I have a carry forward loss from 2018 which has been entered on 2019 return, but this loss does not appear to have reduced my taxable income...why?

 
5 Replies
GiseleD
Expert Alumni

I have a carry forward loss from 2018 which has been entered on 2019 return, but this loss does not appear to have reduced my taxable income...why?

There are many types of carryforwards in the tax code. In order to accurately address your concern, please respond back with more details on your carryforward loss.

 

While you are awaiting a response, may I recommend that you look at your tax forms in TurboTax? This may help you determine if the loss was actually documented on your return.

 

Here’s how to do this in TurboTax online:

  1. In the left-hand menu bar, click on Tax Tools, then click Tools.
  2. Under Other helpful links, click View Tax Summary.
  3. Your Tax Summary will be displayed. In the left-hand menu bar, you will see a new option: Preview My 1040. Click it, and this will allow you to see the forms. Use this diagnostic tool to check to ensure your capital loss carryforward was entered properly.
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kmacy
New Member

I have a carry forward loss from 2018 which has been entered on 2019 return, but this loss does not appear to have reduced my taxable income...why?

My $3000 capital loss carry forward does not appear on 1040/line 8.  I do not see schedule 1.  Where is schedule 1?

VolvoGirl
Level 15

I have a carry forward loss from 2018 which has been entered on 2019 return, but this loss does not appear to have reduced my taxable income...why?

For 2019 Schedule D is back on its own line 1040 line 6 and not on schedule 1.

kmacy
New Member

I have a carry forward loss from 2018 which has been entered on 2019 return, but this loss does not appear to have reduced my taxable income...why?

How do I get Turbo Deluxe to Enter Schedule D?  Pay for Premiere even though I neither sold nor purchased any capital good?

VolvoGirl
Level 15

I have a carry forward loss from 2018 which has been entered on 2019 return, but this loss does not appear to have reduced my taxable income...why?

Sorry if you are using the Online version you need Premier.  You can use any Desktop program.  All the Desktop programs have the same forms. You just get more help and guidance in the higher versions. 

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