"FEDERAL TAX DUE" Number Not Updating?

looroo · ‎April 17, 2022

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!

HelenC12 · ‎April 17, 2022

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"

View solution in original post

HelenC12 · ‎April 17, 2022

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"

Expert does your taxes

Do it yourself

Resources

Support

Expert does your taxes

Do it yourself

Resources

Support

"FEDERAL TAX DUE" Number Not Updating?