Hi everyone,
I am currently in the process of completing my 2024 tax return using Turbo desktop software and have encountered 2 issues with my capital loss carryover.
I won't disclose specific numbers, but I'll give ballpark figures.
I created a table to show the numbers. Thank you in advance for any insights.
You'll need to sign in or create an account to connect with an expert.
I don’t know about all of your questions but yes you can use more than 3,000 per year.
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 full prior year carryover amount.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
jlondon11
Returning Member
BigRabit1
Level 1
smithvi2734
New Member
mpelzsherman
New Member
easily_confused2
Returning Member