On the "Your income" screen, I'm trying to decide why the "Capital Loss Carryover" doesn't show what I think it should. Adding a loss to the Stocks (etc) section doesn't change the capital loss carryover. Adding a loss to the Contracts and Straddles does though.
BTW, I understand the 3k/year loss (personally think that number is too low and hasn't been raised in many many years).
Example
| Detail | 2020 | 2021 |
| Stocks, Cryptocurrency, Mutual Funds, Bonds, Other | $1,000 | $0 |
| Capital Loss Carryover | -$42,000 | -$39,000 |
| Contracts and Straddles | -$36,000 | $0 |
When adding to Stocks section, no change to Capital Loss Carryover
| Detail | 2020 | 2021 |
| Stocks, Cryptocurrency, Mutual Funds, Bonds, Other | $1,000 | -$10,000 |
| Capital Loss Carryover | -$42,000 | -$39,000 |
| Contracts and Straddles | -$36,000 | $0 |
When adding to Contracts and Straddles, the Capital Loss Carryover does change accordingly (input -10k, goes to -$49,000 Carryover).
One thing to note: When I go to the 'Stocks, Cryptocurrency, Mutual Funds, Bonds, Other' section, TurboTax does still give me this warning:
Unfortunately that warning very well may be interfering with the system finishing its calculation. You should delete your 1099-Bs and enter the summaries for the transactions and then attach the pdfs of the forms you received. That should fix the issue.
Unfortunately that warning very well may be interfering with the system finishing its calculation. You should delete your 1099-Bs and enter the summaries for the transactions and then attach the pdfs of the forms you received. That should fix the issue.
Yes, I deleted the crypto imports and the Capital Loss Carryover worked as expected for the stocks. I logged a ticket with TurboTax.
Unfortunately, importing crypto transactions isn't easy when you have a lot of them. Doing a summary might be just as challenging for exchanges that don't good docs.