topic Re: I have a question about tax loses on stock sales carried over to future years on turbo tax deluxe…would like to SPEAK with a live representative….my experience with speaking to a turbo rep is “you are just bleep out of luck” in Get your taxes done using TurboTax

I have a question about tax loses on stock sales carried over to future years on turbo tax deluxe…would like to SPEAK with a live representative….my experience with speaking to a turbo rep is “you are just bleep out of luck”

wegaither1948 — Tue, 10 Dec 2024 21:06:53 GMT

Re: I have a question about tax loses on stock sales carried over to future years on turbo tax deluxe…would like to SPEAK with a live representative….my experience with speaking to a turbo rep is “you are just bleep out of luck”

VolvoGirl — Tue, 10 Dec 2024 21:13:41 GMT

You can carryover stock losses to future years. You get to first offset the loss against any gains you have each year so that can use more of it up. Then after applying the loss to the current gains you can take a max loss of 3,000 (1,500 MFS)per year. Turbo Tax does all the calculations for you. Just enter the prior year carryover amount.

You have to report the carryover every year until it's used up. You can't skip a year. Even if you don't report it on your return you have to reduce it by the 3,000 (1,500 MFS) when you carry it over to next year. You can't choose when to use it.

If you transferred your prior return it should be already filled in.

Enter a Capital Loss Carryover under

Federal Taxes or Personal (Home & Business)

Wages and Income

Then scroll down to Investment Income

Capital Loss Carryovers - Click the Start or Update button

You enter the full amount that carried over, not just the 3,000

The 3,000 is just the max loss you can claim each year AFTER offsetting any gains you have. So you might use more of it up in one year.

Re: I have a question about tax loses on stock sales carried over to future years on turbo tax deluxe…would like to SPEAK with a live representative….my experience with speaking to a turbo rep is “you are just bleep out of luck”

VolvoGirl — Tue, 10 Dec 2024 21:15:36 GMT

Oh for Deluxe….you can use the Desktop installed Deluxe program but if you use the Online version to need to upgrade to Premium to enter investments and sales and carryovers.

All the Desktop programs have the same forms. You just get more help and guidance in the higher versions.

Re: I have a question about tax loses on stock sales carried over to future years on turbo tax deluxe…would like to SPEAK with a live representative….my experience with speaking to a turbo rep is “you are just bleep out of luck”

Opus 17 — Tue, 10 Dec 2024 21:33:50 GMT

Turbotax does not offer tax advice or tax preparation assistance unless you pay for an upgrade to either the Live Assist or Live Full Service versions. This forum is provided for free.

topic Re: I have a question about tax loses on stock sales carried over to future years on turbo tax deluxe…would like to SPEAK with a live representative….my experience with speaking to a turbo rep is “you are just **bleep** out of luck” in Get your taxes done using TurboTax

I have a question about tax loses on stock sales carried over to future years on turbo tax deluxe…would like to SPEAK with a live representative….my experience with speaking to a turbo rep is “you are just **bleep** out of luck”

Re: I have a question about tax loses on stock sales carried over to future years on turbo tax deluxe…would like to SPEAK with a live representative….my experience with speaking to a turbo rep is “you are just **bleep** out of luck”

Re: I have a question about tax loses on stock sales carried over to future years on turbo tax deluxe…would like to SPEAK with a live representative….my experience with speaking to a turbo rep is “you are just **bleep** out of luck”

Re: I have a question about tax loses on stock sales carried over to future years on turbo tax deluxe…would like to SPEAK with a live representative….my experience with speaking to a turbo rep is “you are just **bleep** out of luck”

topic Re: I have a question about tax loses on stock sales carried over to future years on turbo tax deluxe…would like to SPEAK with a live representative….my experience with speaking to a turbo rep is “you are just bleep out of luck” in Get your taxes done using TurboTax

I have a question about tax loses on stock sales carried over to future years on turbo tax deluxe…would like to SPEAK with a live representative….my experience with speaking to a turbo rep is “you are just bleep out of luck”

Re: I have a question about tax loses on stock sales carried over to future years on turbo tax deluxe…would like to SPEAK with a live representative….my experience with speaking to a turbo rep is “you are just bleep out of luck”

Re: I have a question about tax loses on stock sales carried over to future years on turbo tax deluxe…would like to SPEAK with a live representative….my experience with speaking to a turbo rep is “you are just bleep out of luck”

Re: I have a question about tax loses on stock sales carried over to future years on turbo tax deluxe…would like to SPEAK with a live representative….my experience with speaking to a turbo rep is “you are just bleep out of luck”