Capital Gain

[sjolley75166]

How do you input capital gain as ordinary income and input a capital loss from previous year?

[OpeA1]

TurboTax takes care of that for you! When putting in the transactions from your 1099-B, be sure to include the cost basis (dates and amounts when acquired), TurboTax will correctly classify the gain (or loss.) 

To enter a carryover loss from the previous year, Turbo Tax will do that for you if you used the software in the previous year. If not, please follow the steps below:

• Federal Taxes or Personal (Home & Business)
• Wages and Income
• Then scroll down to Investment Income
• Capital Loss Carryovers - Click Start or Revisit