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If the capital loss was for 2019, you need to use Schedule D to put in all the transactions that resulted in the capital loss. Then, TurboTax will automatically calculate the gain or loss from the transactions.
From the Income screen select "Investment Income" and then "Stocks, Mutual Funds, Bonds, Other."
TurboTax will guide you the rest of the way.
Hmm, I didn't sell any stock or other investments in 2019. This a carryover loss that originated in 2008. Every year I use the Schedule D Worksheet then enter the $3,000 onto the Schedule D. The original amount was $40,000 and the company went belly-up. I've been using $3000 in carryover each year and have $10,000 left to use... so 2019, 2020, 2021 and 2022 will have carryovers from the original transaction.
There is no name of a person or financial institution. I've been using the Schedule D worksheet and the Schedule D form. I can't find the option where I just manually put in the amount.
From my colleague MichaelL1
To enter your Capital Loss carryforward
Note: You enter the loss carryover as a positive amount here.
When I select "Capital Loss Carryover" it takes me to the question "Did you have any investment losses you couldn't claim in 2018?" Selection of "Yes" or "No". I selected "Yes". I then get sent to a page that says TurboTax has calculated for based on what I entered, however, I never got the chance to enter anything. It has three amounts of "$0" each for: Capital loss carryover from 2018, Capital loss used in 2019, Loss carried forward to 2020.
I never receive the option to enter it.
@vkendall1958 What version of the TurboTax software are you using? Are you using TurboTax Online or the Desktop version and which one (Deluxe, Premier, etc.)
I'm using the online version. I've spoken with 2 different live help accountants, but they were unable to fix as a well. I never got a follow up.
To enter this you will need to be on TurboTax Online Premier or Self Employed.
Thank you for the detailed reply. However, when I do the second step I do not get that choice:
I get a screen that asks:
If I select YES the next screen is:
If you did not file with Turbo Tax in 2018, you need to tell Turbo Tax what your carryovers were:
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