Capital Loss Carry Over After Marriage

[taxquasar]

I got married in 2022. My wife and I both have a capital loss carry over. We both have been filling with TurboTax. How will TurboTax handle that if we file jointly in 2022?

[VolvoGirl · Accepted solution]

Just add them together and enter the total.  

Enter a Capital Loss Carryover under

Federal Taxes or Personal (Home & Business)

Wages and Income

Then scroll down to Investment Income

Capital Loss Carryovers - Click the Start or Update button

You enter the full amount that carried over, not just the 3,000

Here's some general info on getting married.  Did you both use Turbo Tax for 2021?

You can not transfer from or combine 2 returns or accounts.  Just pick the return for the spouse that has the most complicated return to enter or has any depreciation or business or  more investments.  Or use the account for whoever you want to be listed first going forward (by the way you can not change the order of the names).  Then add the other spouse's name, ssn and info to it.

You should usually  file a Joint return which is only 1 return combined for the both of you.  Make sure to stick with this one account for the future.  Just ignore the other spouse's account.

Getting Married FAQ

https://ttlc.intuit.com/community/tax-filing-status/help/what-does-getting-married-mean-for-my-taxes...

And info on Getting Married…..

http://turbotax.intuit.com/tax-tools/tax-tips/Family/Getting-Married/INF12006.html

[taxquasar]

Thank you, @VolvoGirl