Carryover loss in 2022 that I wasn't able to use in 2023, but can't enter in 2024

[blackstone79]

Ok, this is driving me nuts.  I have losses in 2022, that I didn't use in 2022 or 2023 (but reported them and carried them over in turbotax).  I imported my 2023 taxes into turbotax and they did not carry over the losses I wasn't able to use in 2023 (again, even though they are there....).  Ok, no problem, i'll just enter the manually.

However, when I click on the "Capital Loss Carryover" section in the the turbotax desktop app under Wages & Income, I am greeted with a form to input 2023 capital gains/losses, not any carryover from 2022 (see screenshot below).  I click next expecting to be asked if I had any unused losses to input, and the next screen just reports I have $0 capital gain losses to use......  

Ok, so maybe if I just click the search button and jump to the section.  Nope.   I get this screen (see below) with 4 squares endlessly looping.  And i'm 100% sure i'm connected to the internet, because i'm writing this message...  Tried rebooting the computer...  nada.....

 

any help here?  If the answer is input directly into the form, which form?  there are so many....

Thx!!!

[DoninGA]

For a capital loss carryover -

Click on Federal Taxes (Personal using Home and Business)
Click on Wages and Income (Personal Income using Home and Business)
Click on I'll choose what I work on (if shown)
Under Investment Income
On Capital Loss Carryover, click the start or update button

[VolvoGirl]

Yes you need to enter the carryover loss from 2023, not 2022.   If you didn’t use it in 2023 it would still carryover but as the 2023 loss.  Did you enter it into your 2023 return?  You may need to figure out what the loss would have been for 2023.  You may need to amend your 2023 return.   

You have to report the carryover every year until it's used up.  You can't skip a year.  Even if you don't report it on your return you have to reduce it by the 3,000 (1,500 MFS) when you carry it over to next year.  You can't choose when to use it.

If you have a negative AGI or negative taxable income it will show up on 1040  BUT it won't reduce the carryover to the next year.

This is from the IRS Pub 550 page 66 Capital Loss Carryover

"When you figure the amount of any capital loss carryover to the next year, you must take the current year's allowable deduction into account, whether or not you claimed it and whether or not you filed a return for the current year. "

Here is pub 550…  http://www.irs.gov/pub/irs-pdf/p550.pdf

[blackstone79]

Folks - the answer is on the first screenshot of my original post, just click and do the form as instructed and it calculates everything correctly, including the losses carryforward(ed) from 2022 through 2023.  So there is actually no problem I am identifying, i just didn't understand what turbotax was asking me to do, and once I just did it, it worked.

I doubt anyone else will make this mistake :).