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Capital Loss Carryover

Turbo Tax did not include my 2018 capital loss carryover in my 2019 return.  Can I add the amount when I file this year?

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1 Reply
GeorgeM777
Expert Alumni

Capital Loss Carryover

No, the proper approach to take regarding the missing carryover loss is to amend your 2019 return to reflect the missing carryover loss from 2018.  Additionally, your 2020 return may be affected by the amendments you make to your 2019 return.  Thus, you may need to amend your 2020 return.  

 

If you are using TurboTax Online, you will see the "Amend, Change Return" tab near the bottom right of the Home page.  When you log into your account, scroll down to the bottom of the page where you will see the various tax years during which you filed a tax return through TurboTax.  Click on the year 2019, as that is the year it appears you want to amend, and on the right side of the page you should see a tab regarding amending a return.  After clicking the amend tab, follow the steps to begin the process of amending your 2019 return.  Follow the same process for amending your 2020 return.

 

Beginning with the 2019 tax year, you can e-file amended tax returns.  Therefore, you should be able to e-file your amended returns for the relevant tax years.  

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