You'll need to sign in or create an account to connect with an expert.
In TurboTax, in the upper right hand corner of the screen, click on the magnifying glass. This will open a search bar.
Carryover losses on your investments are first used to offset the current year capital gains if any. You can deduct up to $3,000 in capital losses ($1,500 if you're married filing separately). Losses beyond that amount can be deducted on future returns as a capital loss carryover until the loss is all used up.
Thank you very much, Helen C12! I’m new to this and tried to reply by sending it as another question. Realize now that this is the way to do it. Anyway, after unforeseen problems with a different maker’s software, I made a last minute switch to TurboTax on the 16th. Using Premier, I got stuck on long-term capital loss so sent a question to the Turbo Tax community (you responded to that one) and also requested a phone call. I’m still amazed that I got both so late in the evening and on the busiest weekend of tax season. I’m very impressed with TurboTax and the knowledgeable and friendly help I received. Many thanks to you and your colleagues! Debbie
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
jszupello
New Member
fasteddie577
Level 6
svschaed
New Member
Fang808
New Member
sammy10005
New Member