I incurred a significant loss 7 years ago on a stock sale (~40,000$). I did my taxes myself this year and did not carry over the $3000 loss that i can take.
How do I amend my return and how do i find out the possible savings i can get?? (Is it worth the trouble??) adjusted gross income last year was approximately 27,000$. Thanks very much
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Hi. Yes you could and should amend a return that is inaccurate or missing information.
To amend if you used TurboTax Online, simply log in to your account and select “Amend a return that was filed and accepted.” If you used our CD/download product, sign back into your return and select “Amend a filed return.”
Once you've started the amend process you then will need to add the carryover loss to your taxes. If you are using online:
If you are using desktop type in Capital Loss Carryover in the search box and the follow the steps to enter your carryover.
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