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How can I confirm that my 2024 capital losses are accounted for in 2025 tax filing in TurboTax?

 
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2 Replies
AnnetteB6
Employee Tax Expert

How can I confirm that my 2024 capital losses are accounted for in 2025 tax filing in TurboTax?

If you used TurboTax to prepare your 2024 tax return, then your carryover amount will be automatically reported as part of your 2025 tax return.  Otherwise, use the steps in the following TurboTax help article to navigate to the area where you will enter your amounts.  The information on the screen will tell you exactly which forms and lines from your 2024 tax return to enter for the carryover amounts.

 

How do I enter my capital loss carryover?


The carryover amounts will be shown on Schedule D line 6 for short-term carryover losses, and line 14 for long-term carryover losses.

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How can I confirm that my 2024 capital losses are accounted for in 2025 tax filing in TurboTax?

If it didn’t transfer over from last year then
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


The carryover loss from last year will be on Schedule D line 6 (Short term) and line 14 (Long term).


The current carryover loss to next year. Schedule D doesn't actually show the carryover amount. To find your Capital Loss Carryover amount you need to look at your return schedule D page 2. Line 16 will be your total loss and line 21 should be a max loss of 3,000. The difference between line 16 and 21 is the carryover loss.


Then there are 2 worksheets….
Capital Loss Carryover worksheet showing the carryover from the prior year and the current amounts.
Capital Loss Carry Forward worksheet showing the amount transferring over to next year.


In the Online version you have to save your return with all the worksheets as a pdf file to your computer to see the Capital Loss worksheets.

In the Desktop program you can switch to Forms Mode and open the worksheets.

 

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