topic I have a stupid question about my $60K Capital Loss Carryover from 2021 in Get your taxes done using TurboTax

I have a stupid question about my $60K Capital Loss Carryover from 2021

tuanngnttax — Tue, 10 Mar 2026 07:21:11 GMT

This year I sold my second home and I net $160k profit. When I file my return, TurboTax will subtract $60k from $160k equals $100k net profit. Is there a way in Turbotax that can ignore my $60k Capital Loss Carryover and let me pay tax on the original $160k profit?

Re: I have a stupid question about my $60K Capital Loss Carryover from 2021

Critter-3 — Thu, 15 Dec 2022 19:38:05 GMT

NO ... all prior year losses must be taken into consideration on the Sch D and used ... you cannot choose to ignore them, skip a year or fail to use them.

Re: I have a stupid question about my $60K Capital Loss Carryover from 2021

rjs — Thu, 15 Dec 2022 20:09:51 GMT

It's not up to TurboTax. The tax law requires the capital loss carryover to be used. No tax software can do what you are asking for.

Re: I have a stupid question about my $60K Capital Loss Carryover from 2021

dmertz — Thu, 15 Dec 2022 20:13:03 GMT

If you would benefit from moving some future income to 2022 (perhaps because you anticipate that income being taxed at a higher rate in the future), there are various ways that you might be able to generate additional 2022 income such as doing a Roth conversion or harvesting capital gains. As others have said, your $60k capital-loss carryover must be included on your 2022 tax return.