Capital loss carryover

[splitting927]

Divorced decree final in 2024 therefore filing status changed from Married filing jointly to single.  When married we had joint capital loss carryover still remaining (started in 2022, used $3k in 2023).  there is about $5k remaining.  We are splitting the $5k but what is limit that each of us can deduct.  Does it have to be $1500 each but we are filing single so is it up to $3k each?

[Mike9241]

if the divorce was final by 12/31/2024, your limit is $3,000. There's $5K to split and if you have no other capital gains/osses your deduction will be 1/2 the $5K. 

[splitting927]

Can you give me guidance on how to complete the capital loss worksheet within TurboTax? I am using the account where it was filed jointly so it’s pulling over those amounts. Do I split those amounts from the 2023 return that are pulling over

[VolvoGirl]

You really need to start over and set up a new account for yourself and not transfer from last year. You can not remove a spouse or switch the order of names.

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 Start or Revisit

[splitting927]

Ugh. I already paid for the online turbo tax this year and it won’t let me do that