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 per year. Turbo Tax does it all automatically for you if you transferred from the prior year. Did you use Turbo Tax last year? Or do you need to enter the 2018 capital loss carryover to 2019? Or you have the new 2019 carry over amount you will need for next year 2020?
FOR 2019......
FYI.....The 2019 column shows the carryover to 2020 not your current loss for 2019. The 2018 Column shows the carryover to 2019.
2019 Capital Gains and Losses on Schedule D go directly to 1040 line 6. And Schedule D doesn't actually show the carryover amount. 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. There is a Capital Loss 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 Desktop CD/Download program you can go to Forms and find it in the list in the left column.
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.
