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Is anyone besides me having difficulty with a capital loss carryover from 2023 to offset regular income for 2024? I've never encountered this problem before.

TurboTax is telling me that "$3000 of these losses are deductible this year" but also telling me that "$0" will be deducted for 2024. Is this a bug in the software? After many years of using TurboTax, is it now time for a change?
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2 Replies
KrisD15
Employee Tax Expert

Is anyone besides me having difficulty with a capital loss carryover from 2023 to offset regular income for 2024? I've never encountered this problem before.

Do you have income for the loss to be allocated to? 

It sounds as if the program is telling you that up to $3,000 may be used, but none has been applied at this point. 

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Is anyone besides me having difficulty with a capital loss carryover from 2023 to offset regular income for 2024? I've never encountered this problem before.

On the income page The 2024 column shows the carryover to 2025 (not your current loss for 2024). 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 for next year.

 

Could it be this?
But 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.

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