topic Loss carryovers are not transferring to 2025 in Get your taxes done using TurboTax

Loss carryovers are not transferring to 2025

jgdemeritt — Mon, 16 Feb 2026 16:38:12 GMT

For the second year in a row, my prior year loss carryovers did not transfer to my current year return and I had to reenter it. I tried to find a box to click or something on the capital loss carryover worksheet and did not see anything there that would trigger that. So, it appears this is a repetitive failure with the software and I think its pretty risky for those that aren't paying attention. I estimate my taxes on Excel and reconcile it to TT, so I caught it when the tax calculations were off in TT compared to my Excel file. I am have the TT Desktop Premier version for 2024 and 2025.

Re: Loss carryovers are not transferring to 2025

DianeW777 — Wed, 18 Feb 2026 18:24:03 GMT

The loss carryovers should always be a figure to confirm each year and if necessary, enter it in your current tax return. An amended return or a change by the IRS could change the number and TurboTax may not have the actual number.

There is an entry for this in your current year tax return which you may have done based on your information. I will place them here for reference.

How do I enter my capital loss carryover?

Re: Loss carryovers are not transferring to 2025

jgdemeritt — Thu, 19 Feb 2026 19:39:45 GMT

Although I appreciate the advice, my real question is why did the software stop carrying this information over via the transfer of the prior year return. Yes, it should be checked every year, but the software should at least carry over what it had for the prior year like it used to. I'm sure a very high percentage of people do not file amended returns, and those that might can use TT for that too. I think the taxpayer is at risk of losing or misrepresenting loss carryforwards if they aren't paying attention. Then you're filing something that when fixed might not track to a prior year return carryforward if you use TT. It's just basic stuff to me and it wasn't like this before.

Re: Loss carryovers are not transferring to 2025

pamtsai — Tue, 24 Feb 2026 05:12:47 GMT

Turbotax, please fix this bug ASAP.

Re: Loss carryovers are not transferring to 2025

DianeW777 — Wed, 25 Feb 2026 15:34:02 GMT

Please clarify where you see the loss and the specific loss you are referring to. Please provide a copy of your 2024 using he information below if you would like us to review further. We need to know your state also.

If you would like to send us a “diagnostic” file that has your “numbers” but not your personal information it would help.  If you would like to do this, here are the instructions: (Don't forget to give us the state)

TurboTax Online:

Open your return -Go to the menu panel on the left side of your return and select Tax Tools.

Then select Tools below Tax Tools.
A window will pop up which says Tools Center.
On this screen, select Share my file with Agent.
You will see a message explaining what the diagnostic copy is.  Click okay through this screen and then you will get a Token number.
Reply to this thread with your Token number and your state. This will allow us to open a copy of your return without seeing any personal information.

TurboTax Desktop:

If you like, you can send a copy of your return that will be scrubbed to eliminate your personal data by using these steps:

Click on Online in the top left menu of TurboTax Desktop for Windows
Select 'Send Tax File to Agent'* > Follow the prompts to reach the token number.
- Enter your email used for TurboTax > Enter your code > Send
Write down or send an image of your token number and state then place in this issue.
We can then review your exact scenario for a solution.
Please also tell us any states included in the return. This is necessary for us to view the return.
- *If using a MAC, go to the menu at the top of the screen, select Help, then, 'Send Tax File to Agent')

We will be able to see exactly what you are seeing and we can determine what exactly is going on in your return to provide you with a resolution.

@pamtsai

Re: Loss carryovers are not transferring to 2025

pamtsai — Sat, 28 Feb 2026 20:44:39 GMT

Below are the details I encountered while I was using Turbotax for 2025 Tax year.

At Investment income "Capital Loss Carryover", TT asked me to enter my capital gains and losses info of tax year 2024. After all my info were entered with AMT allowable loss -$650 from year 2024, clicked Continue button. "Here are your capital loss carryover amounts" screen "Capital loss carryover from 2024" column shows Total $0.00 instead of -$650.

Re: Loss carryovers are not transferring to 2025

pamtsai — Sat, 28 Feb 2026 20:49:43 GMT

Steps followed but the end result of carryover Total shown at the screen is $0.00 instead of the correct amount entered.

Re: Loss carryovers are not transferring to 2025

sannain — Sun, 08 Mar 2026 14:54:45 GMT

I am facing the same issue. Were you able to resolve it?

Re: Loss carryovers are not transferring to 2025

jgdemeritt — Sun, 08 Mar 2026 16:00:17 GMT

Yes, I use a downloaded Premier version of TT for a Windows 11 PC. I fixed this by opening the tax return and clicking on the View drop down and selecting Forms. Then went to the Cap Ls Carryovr form and entered the correct loss carryover information in the box at the top of the form called “2024 Capital Loss Information Smart Worksheet”. This worked for the federal return fine. I file in MA, which has different carryover rules where only the max deduction is $2,000 compared to $3,000 on the federal. The MA carryover calculated fine and I didn’t have to do anything on that for some reason. I hope this is helpful.

Re: Loss carryovers are not transferring to 2025

rdkregel — Wed, 18 Mar 2026 21:31:37 GMT

Not allowing $3,000 loss

Re: Loss carryovers are not transferring to 2025

DoninGA — Wed, 18 Mar 2026 21:39:54 GMT

@rdkregel

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

Re: Loss carryovers are not transferring to 2025

glengtax — Mon, 30 Mar 2026 01:17:14 GMT

I have the same issue that it did not transfer the loss carryover from last year.

Using TurboTax business Desktop for a TRUST. (Form 1041)

I had to enter it thru the Forms using Schedule NJ-BUS-2 Part I Line 5 which is

Loss Carryforward From Tax Year 2024

The form is called "New Jersey Gross Income Tax Alternative Business Calculatiion Adjustment"

The loss were from last years NJ-BUS-2, not from a schedule D

This is not a carryover loss that goes on Schedule D Line 14

This is a loss that goes on Schedule NJ-BUS-2 Part I Line 5b of Form NJ-1041

Re: Loss carryovers are not transferring to 2025

WanderingCherie — Mon, 13 Apr 2026 22:26:23 GMT

1357188 Utah

Re: Loss carryovers are not transferring to 2025

DaveF1006 — Tue, 14 Apr 2026 18:40:00 GMT

I'm looking at your file that you submitted but it looks like an empty return other than a $3,000 loss capital loss carryover in your federal and Utah state returns. There is no other data to look at.

If you are wondering why you don't see all of your capital loss carryover amounts in your returns, it won't be listed here. Instead, it's listed in your carryover worksheets in the return, ready to be used to offset capital gains earned during the year.

If you have capital gains this year on your investment income, more of your carryover can be used to completely offset the capital gains both on the federal and state levels.

Let's look at an example. I notice you have $67,016 (from the worksheets) to carry over into 2025. Now, say if you report an investment sale that resulted in a in a $30,000 capital gain. This would result in no capital gain this year because of the carryover amount but then the carryover amount is reduced to $34,016 to be carried over into next year.

Using this example, here is how the math works.

Total Carryover Available: $67,016
New Capital Gain: $30,000
Net Result on Gains: $0 (The gain is completely wiped out).
Remaining Loss: $37,016
Standard Deduction: You still get to take another $3,000 off your other income.
New Carryover to Next Year: $34,016

So the only reason why you only see $3000 because this is used to offset other income entered into the return. The remaining carryover is waiting behind the scenes to be used to offset any capital gains reported in your return.

@WanderingCherie