If on my 2018 return I listed final year deductions on Form K-1 that exceeded the $3000 limit for the year, where do I list the excess on 2019 return?

[DawnC]

If you have a capital loss on the disposition of an interest in a passive activity, the loss may be limited. For individuals, your capital loss deduction is limited to the amount of your capital gains plus the lower of $3,000 ($1,500 in the case of a married individual filing a separate return) or the excess of your capital losses over capital gains.

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 select 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.

Related Information:

• What is a capital loss carryover?
• How can I tell if I'm entitled to a capital loss carryover from last year's return?
• Where do I enter a capital gain or loss?