"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.

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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"

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"FEDERAL TAX DUE" Number Not Updating?