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capital loss carryover

2020 tax return had capital loss of 30,886. I claimed loss of 3000 and carried over remainder. When I follow prompts in turbo tax for this year, it defaults to 0 carryover and I cannot find a way to change that to $3000.

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2 Replies
ColeenD3
Expert Alumni

capital loss carryover

You can enter it manually. Just open your TurboTax return, search for capital loss carryover, and then select the Jump to link in the search results.

We'll take you to the screen where you can enter that info from your prior year return.

capital loss carryover

if you claimed $3K of The $31K your carryover is about $28K 

 

 

however, it can be tricky. you could have some short-term capital loss carryover (if short-term capital losses in 2020 exceeded $3,000). the rest would be long-term capital loss carryover. if you had less than $3K of STCL in 2020 then that's eliminated the excess of $3K over your  2020 STCL would reduce your long-term capital loss carryover.

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