topic Carryover crypto loss in Get your taxes done using TurboTax

Carryover crypto loss

SandyOH — Tue, 24 Feb 2026 04:56:59 GMT

Can I delete a crypto carryover loss from 2021? My 19 year old son dabbled in crypto much to my dismay and had a small loss ($113). Because of this carryover loss I cannot use TurboTax free edition to file his return. He will pay more to file then his refund.

Re: Carryover crypto loss

fanfare — Sat, 15 Apr 2023 16:42:15 GMT

If you imported his prior tax return, you are already upgraded.

visit the IRS at https://www.irs.gov/filing/free-file-do-your-federal-taxes-for-free

to find truly free filing. Note that some include free state as well; that's important.

@SandyOH

Re: Carryover crypto loss

fanfare — Sat, 15 Apr 2023 16:47:35 GMT

your son should have a voice in whether his future Capital loss deduction is discarded by not reporting.

@SandyOH

Re: Carryover crypto loss

SandyOH — Sat, 15 Apr 2023 16:49:35 GMT

I don't remember stating that he wasn't aware of this issue but thanks for the parenting advice!