topic Long term loss carrover in Get your taxes done using TurboTax

Long term loss carrover

jeffvelodota — Mon, 09 Mar 2026 08:32:54 GMT

I have a $6,000 capital loss carryover from last year. I understand I can carry over $3,000 to my 2021 filing. Can you please advise on where that should be entered when doing my tax return?

Re: Long term loss carrover

DoninGA — Wed, 09 Mar 2022 22:24:20 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: Long term loss carrover

Mike9241 — Tue, 05 Apr 2022 19:59:04 GMT

if you have a $6K CLCO from 2020 to 2021 you enter $6K as the c/o not $3K

Re: Long term loss carrover

VolvoGirl — Tue, 05 Apr 2022 20:07:10 GMT

You carryover and enter the full amount. Then 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.