The 17,000 is carried over from 2023. It will offset the 5,900 gain and you get to use another 3,000 of it on 1040 line 7. So that’s 8,900 used up and the remaining 8,100 loss will carryover to 2025.
You get to first offset the loss against any gains you have each year so that can use more of it up. Then after applying the loss to the current gains you can take a max loss of 3,000 (1,500 MFS)per year. Turbo Tax does all the calculations for you. Just enter the prior year carryover amount.
If you transferred your prior return it should be already filled in.
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
On the income page The 2024 column shows the carryover to 2025 (not your current loss for 2024).
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 Schedule D and 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.
