Capital loss carryover

[Mike7495]

I have started doing my 2021 tax return, and had transferred the 2020 TurboTax return info. to 2021.  I had a substantial capital loss carryover from 2020 that is not being displayed in the 2021 column of my return.  It is displayed in the 2020 column.  Any advice?

[MinhT1]

Your capital loss carryover may not have transferred from your 2020 tax return.

If you know your capital loss carryover, you can manually enter it in TurboTax.

To do this, please follow these steps:

1. Click on Federal on the left-hand panel, then on Wages and Income
2. Scroll down and  locate the Investment Income section
3. Click Show more and click Start next to Capital loss carryover.

[Mike7495]

I meant to include that the amount did transfer, but is showing up on the "Stocks..." line for 2020.  Not the Capital Loss Carryover line.

[VolvoGirl · Accepted solution]

It should be in the 2020 column not 2021.  2020 is right.

On the income page The 2021 column shows the carryover to 2022 (not your current loss for 2021). 

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 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.

[bcollis]

So I have the same/similar question.  My carryover is displayed in the 2020 column.  For 2021, I had a very small gain which is reflected in the 2021 column.

However, my question is...my Capital Loss Carryover in the 2021 column is showing 0...even though I have not used all of my carryover losses?  Shouldn't this column reflect a number?

Thanks for any and all answers!

[VolvoGirl]

Maybe you were able to offset all the current 2021 gains and there is nothing left to carry over to 2022.