topic Capital Loss in After you file

Capital Loss

vadave7 — Sat, 29 Mar 2025 15:14:39 GMT

The software is telling me that I have a capital loss total of $5246 in 2024. $3000 deduction this year and $2249 carryover to next year. No capital loss carried over from 2023. Problem is that I have no capital losses. The software is opaque on where this $5246 comes from. My reported interest and dividends are small. Anyone have a similar problem?

Re: Capital Loss

MindyB — Sat, 29 Mar 2025 15:26:14 GMT

I would like to take a deeper look at this. However, I need a diagnostic file which is a copy of your tax return that has all of your personal information removed. You can send one to us by following the directions below:

TurboTax Online:

Sign into your online account.
Locate the Tax Tools on the left-hand side of the screen.
A drop-down will appear. Select Tools
On the pop-up screen, click on “Share my file with agent.”
This will generate a message that a diagnostic file gets sanitized and transmitted to us.
Please provide the Token Number that was generated in the response.

TurboTax Desktop/Download Versions:

Open your return.
Click the Online tab in the black bar across the top of TurboTax and select “Send Tax File to Agent” *
This will generate a message that a diagnostic copy will be created. Click on OK and the tax file will be sanitized and transmitted to us.
Please provide the Token Number (including the dash) that was generated in the response.

*(If using a MAC, go to the menu at the top of the screen, select Help, then, “Send Tax File to Agent”)

Re: Capital Loss

vadave7 — Tue, 01 Apr 2025 13:06:17 GMT

This did not help as there is no "Tax Tools" on left side or anywhere on the UI.

Re: Capital Loss

AnnetteB6 — Tue, 01 Apr 2025 13:16:06 GMT

If you are using a desktop version of TurboTax, then look for the Online option on the top row of the program. Click Online, then Send Tax File to Agent and post the token number here.

With regard to the capital loss shown on your return, did you have any K-1s included in your income? If so, the capital loss could have been reported as part of a K-1.

@vadave7

Re: Capital Loss

vadave7 — Tue, 01 Apr 2025 15:58:10 GMT

I pulled out the K-1 and resolved my issue. Never dealt with a K-1 before. Thank you!! Issue resolved.