I have 3000 capital loss carryover to 2018. However, I do not see my any reduce my tax due. why? Thanks
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Assuming that you used TurboTax in 2017 and transferred that information into your 2018 income tax return, that loss was transferred over to 2018 immediately, before your entered a single new keystroke. If you entered sales resulting in capital gains or received a distribution from a mutual fund of capital gains, or had capital gains from any of the other possible sources, that loss carryover was "used up" absorbing, (reducing), your capital gain.
If you had no capital gains from any source you should see that $3,000 on line 13 of the Form 1040 Schedule 1.
Schedule D, where all capital gains and losses combine is where you should start.
Tom Young
Assuming that you used TurboTax in 2017 and transferred that information into your 2018 income tax return, that loss was transferred over to 2018 immediately, before your entered a single new keystroke. If you entered sales resulting in capital gains or received a distribution from a mutual fund of capital gains, or had capital gains from any of the other possible sources, that loss carryover was "used up" absorbing, (reducing), your capital gain.
If you had no capital gains from any source you should see that $3,000 on line 13 of the Form 1040 Schedule 1.
Schedule D, where all capital gains and losses combine is where you should start.
Tom Young
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