topic Do I submit Capital Loss Carryover Worksheet or is it just for my own record? in Deductions & credits

Do I submit Capital Loss Carryover Worksheet or is it just for my own record?

sankalp-money — Wed, 11 Feb 2026 10:48:59 GMT

Since I had more than $3000 worth of losses in 2022, I may have to do a carryover multiple times.

I know that Capital Loss Carryover Worksheet is one way to track that.

1. But does TurboTax generate that worksheet for you?
2. Is the worksheet submitted to the IRS along with the 1040 form?

3. If we had carryover losses from the previous year, how does TurboTax read the carryover worksheet from previous year and update the balance?

Thanks!

Re: Do I submit Capital Loss Carryover Worksheet or is it just for my own record?

Mike9241 — Wed, 09 Oct 2024 20:04:48 GMT

if you have capital losses in excess of what's deductible, Turbotax will do a c/o worksheet. it is not submitted to the IRS nor does the IRS request it in future years - it's for your own records. if you us Turbotax in the following year any remaining c/o will flow to the current year schedule D

Re: Do I submit Capital Loss Carryover Worksheet or is it just for my own record?

VolvoGirl — Wed, 09 Oct 2024 20:31:24 GMT

#1 Yes

#2 No

#3 Yes

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 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.

If you have a negative AGI or negative taxable income it will show up on 1040 BUT it won't reduce the carryover to the next year.