TurboTax

File with experts
File your taxes
Experts at your fingertips

An expert helps with your taxes, or does them for you
TurboTax Expert Full Service

TurboTax Expert Assist

TurboTax Self-Employed
Prior year taxes
File myself
File myself
Do it yourself

We'll guide you step-by-step
TurboTax Do It Yourself

TurboTax Self-Employed

TurboTax Desktop
TurboTax Free

Activate your product

Prior year taxes
Business
Business
Business taxes

Get your T2 corporate return done right, your way
TurboTax Business

TurboTax Business Desktop
Tax situations
Tax situations
Tax situations

Find extra guidance for your big life moves
For investors

For 25 and younger

For self-employed

For new to Canada

For life changes
Resources
Resources
Resources

Explore tax tools, get tips, and read reviews
Personal income tax calculator

RRSP savings calculator

Learning hub

TurboTax support (FAQ)

TurboTax community
Pricing

user17750638846

Level 2

Solved

Penalty calculation

Forum|Forum|3 months ago
April 1, 2026
1 reply
30 views

how to fill 'Long-term capital gains and losses' screen for penalty recalculation?
I had stock capital gain $30000 for 2025 and $10000 Capital Loss Carryover from 2024. The net capital gain for 2025 was $20000. My actual gain for 1/1/2025 to 3/31/2025 was $ 8000. Should I fill amount $8000? Or fill amount -$2000(8000- 10000) for 1/1/2025 to 3/31/2025?
Since I had $10,000 carry over from 2024, I didn't pay estimated tax in early 2025 when I got gain $8,000. If Turbo Tax subtracts $10,000 at end of year, I have to pay penalty for the gain I had at early 2025. It doesn't make a sense for me.
What is the right way to fill that screen?
Thank you.

TurboTax Business Windows

Best answer by MaryK4

For the 2025 Form 2210 (Annualized Income Installment Method) recalculation, you should enter -$2,000 for the first period (1/1/2025 to 3/31/2025).

Per IRS Publication 550 and Schedule D instructions, a capital loss carryover from a prior year is treated as if it were incurred in the first month of the current tax year. (See IRC § 1212(b)(1))

MaryK4Answer

Level 15

For the 2025 Form 2210 (Annualized Income Installment Method) recalculation, you should enter -$2,000 for the first period (1/1/2025 to 3/31/2025).

Per IRS Publication 550 and Schedule D instructions, a capital loss carryover from a prior year is treated as if it were incurred in the first month of the current tax year. (See IRC § 1212(b)(1))

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