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"FEDERAL TAX DUE" Number Not Updating?

Hello!

 

I added my crypto capital losses to my 1099-B and it had zero effect on the total taxes due?

 

The "refresh" button isn't working either.

 

Any advice? Thanks! 

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1 Best answer

Accepted Solutions
HelenC12
Expert Alumni

"FEDERAL TAX DUE" Number Not Updating?

One reason your crypto capital losses aren't reducing your federal tax due is because you may have other capital losses that you're deducting  and you can deduct a net loss of up to $3,000 ($1,500 if married filing separately). 

 

Any capital loss you couldn't deduct this year can be carried forward and deducted on future tax returns as a capital loss carryover.

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1 Reply
HelenC12
Expert Alumni

"FEDERAL TAX DUE" Number Not Updating?

One reason your crypto capital losses aren't reducing your federal tax due is because you may have other capital losses that you're deducting  and you can deduct a net loss of up to $3,000 ($1,500 if married filing separately). 

 

Any capital loss you couldn't deduct this year can be carried forward and deducted on future tax returns as a capital loss carryover.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
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