topic Capital loss carryover from 2023 is not showing up on my 2024 form, Shows 0 dollars in Get your taxes done using TurboTax

Capital loss carryover from 2023 is not showing up on my 2024 form, Shows 0 dollars

jgulbronso — Thu, 20 Feb 2025 20:44:57 GMT

I have a carryover from 2023 of over $17000 and in 2024 I had a capital gain of $5900. I should get a carryover of $3000 from 2023, but in Turbo tax my 2024 carryover show zero. as does my total carry over. Turbo Tax Premier is not letting me preview my 2024 taxes until I pay. I want to make sure my forms are correct before I pay. Any help out there? Thanks.

Re: Capital loss carryover from 2023 is not showing up on my 2024 form, Shows 0 dollars

DoninGA — Thu, 20 Feb 2025 20:46:21 GMT

For a capital loss carryover -

Click on Federal Taxes (Personal using Home and Business)
Click on Wages and Income (Personal Income using Home and Business)
Click on I'll choose what I work on (if shown)
Under Investment Income
On Capital Loss Carryover, click the start or update button

Or enter capital loss carryover in the Search box located in the upper right of the program screen. Click on Jump to capital loss carryover

Re: Capital loss carryover from 2023 is not showing up on my 2024 form, Shows 0 dollars

VolvoGirl — Thu, 20 Feb 2025 20:51:53 GMT

The 17,000 is carried over from 2023. It will offset the 5,900 gain and you get to use another 3,000 of it on 1040 line 7. So that’s 8,900 used up and the remaining 8,100 loss will carryover to 2025.

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.

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

On the income page The 2024 column shows the carryover to 2025 (not your current loss for 2024).

Schedule D doesn't actually show the carryover amount. To find your Capital Loss Carryover amount you need to look at your return schedule D page 2. Line 16 will be your total loss and line 21 should be a max loss of 3,000. The difference between line 16 and 21 is the carryover loss for next year.

There is also a Carryover Worksheet showing the carryover from the prior year and the current amounts. Then there is also the Capital Loss Carry Forward worksheet showing the amount transferring over to next year.

In the Online version you have to save your return with all the worksheet as a pdf file to your computer to see Schedule D and the Capital Loss Carry Over and Carry Forward worksheets.

In the Desktop program you can go to Forms and find it in the list in the left column.

Re: Capital loss carryover from 2023 is not showing up on my 2024 form, Shows 0 dollars

jgulbronso — Sat, 22 Feb 2025 02:13:28 GMT

Thanks for your input. This still does not work for me in the online version, I have to pay before I can review my tax return. Any suggestion on how I can see my return and schedules before I pay?

Re: Capital loss carryover from 2023 is not showing up on my 2024 form, Shows 0 dollars

DoninGA — Sat, 22 Feb 2025 14:47:09 GMT

@jgulbronso wrote:

Thanks for your input. This still does not work for me in the online version, I have to pay before I can review my tax return. Any suggestion on how I can see my return and schedules before I pay?

You can view your Form 1040 plus Schedules 1, 2 and 3 at any time using the online editions. Click on Tax Tools on the left side of the online program screen. Click on Tools. Click on View Tax Summary. Click on Preview my 1040 on the left side of the screen.

To view or print your complete tax return before filing you will have to pay the TurboTax online account fees.

Re: Capital loss carryover from 2023 is not showing up on my 2024 form, Shows 0 dollars

jgulbronso — Sat, 22 Feb 2025 15:34:50 GMT

Thank you. I was able to preview my 1040 and the schedules 1 and 2. However, I still am showing a zero capital loss carryover from 2023 even though I have a carryover of $17,000. As far as I can tell, everything I have entered and have visibility to on the 2024 online version seems correct, but the carryover to 2024 and 2025 is showing as zero. This cannot be correct.

Re: Capital loss carryover from 2023 is not showing up on my 2024 form, Shows 0 dollars

VolvoGirl — Sat, 22 Feb 2025 15:37:25 GMT

Oh, there is currently a problem. See this. Capital Loss Carryover screen showing incorrect calculations
https://ttlc.intuit.com/turbotax-support/en-us/help-article/new-subscriptions/capital-loss-carryover-screen-showing-incorrect/L0f9krvPv_US_en_US?uid=m6y32pg6

Re: Capital loss carryover from 2023 is not showing up on my 2024 form, Shows 0 dollars

jgulbronso — Sat, 22 Feb 2025 15:41:10 GMT

Thanks again. I did see this about 10 days ago and I am surprised that this is still an issue with Turbotax. I guess that I will have to wait until they get around to fixing the bugs in the system.

Re: Capital loss carryover from 2023 is not showing up on my 2024 form, Shows 0 dollars

DoninGA — Sat, 22 Feb 2025 15:53:24 GMT

@jgulbronso You really need to see the Schedule D to verify that the 2023 capital loss carryover was reported on Schedule D Line 14 and to make sure there is a Capital Loss Carryover Worksheet provided.

To view/print the Schedule D and any worksheets you must pay the TurboTax account fees before filing.

Click on Tax Tools on the left side of the online program screen. Then click on Print Center. Then click on Print, save or preview this year's return. Choose the option Include government and TurboTax worksheets

Re: Capital loss carryover from 2023 is not showing up on my 2024 form, Shows 0 dollars

jgulbronso — Sun, 23 Feb 2025 12:27:03 GMT

Thanks. I was afraid of that. If I pay and find out that my tax forms are incorrect is dealing with Turbotax difficult?

Re: Capital loss carryover from 2023 is not showing up on my 2024 form, Shows 0 dollars

faytong2 — Sat, 01 Mar 2025 18:24:29 GMT

Me too, I have the same problem. It keeps showing 0 dollars. I called Turbo Tax and they weren't able to help either. I'm thinking of putting it under 1099B, with the company name as Carryover, and enter the loss.

Re: Capital loss carryover from 2023 is not showing up on my 2024 form, Shows 0 dollars

PatriciaV — Thu, 06 Mar 2025 15:28:24 GMT

This experience has been reported and is under investigation. You may sign up for updates here: Why is the capital loss carryover screen showing incorrect calculations? Even if this doesn't seem to apply to your situation, the form & calculations will be updated in TurboTax when the investigation is complete.

@jgulbronso

@faytong2

Re: Capital loss carryover from 2023 is not showing up on my 2024 form, Shows 0 dollars

jgulbronso — Thu, 06 Mar 2025 17:07:36 GMT

Thanks. I am still waiting for a Turbo Tax response. Hard to believe that they have not figured this out. I would assume that there are thousands of people in the same situation.

Re: Capital loss carryover from 2023 is not showing up on my 2024 form, Shows 0 dollars

KennethChen — Sat, 15 Mar 2025 00:18:34 GMT

I am having the same issue and glad that I found this message.

Re: Capital loss carryover from 2023 is not showing up on my 2024 form, Shows 0 dollars

cheddar_cheese — Fri, 21 Mar 2025 04:27:32 GMT

Same problem. Impatiently for “into it” to update their software fix.

Re: Capital loss carryover from 2023 is not showing up on my 2024 form, Shows 0 dollars

jgulbronso — Fri, 21 Mar 2025 08:49:02 GMT

My solution was to purchase and download the program rather than wait for Turbotax to fix the online version. The capital loss carry over worked just as it should in the download version of the program.

Re: Capital loss carryover from 2023 is not showing up on my 2024 form, Shows 0 dollars

Needhelp — Sat, 22 Mar 2025 00:57:35 GMT

Has this issue been corrected yet not showing capital gain carryover forward?

Re: Capital loss carryover from 2023 is not showing up on my 2024 form, Shows 0 dollars

SharonD007 — Sat, 22 Mar 2025 01:23:55 GMT

The experience that you described is in the process of being resolved. Take a look at the following TurboTax help article for an opportunity to register your email address to receive updates. Why is the capital loss carryover screen showing incorrect calculations?

Since your capital loss carryover didn't transfer, refer to the TurboTax article How do I enter my capital loss carryover? for navigation instructions to enter it.

Re: Capital loss carryover from 2023 is not showing up on my 2024 form, Shows 0 dollars

Shari88 — Sun, 23 Mar 2025 20:23:38 GMT

Do you know when this will be fixed? It looks like its been a problem for some time, by the previous comments. As it doesn't recognize the carryover, it will not let me use it to apply against the past 3 years...so I cannot complete my taxes until this is fixed.

Re: Capital loss carryover from 2023 is not showing up on my 2024 form, Shows 0 dollars

jgulbronso — Sun, 23 Mar 2025 23:10:03 GMT

I would suggest that you download the software rather than waiting for Turbotax to fix the online version.