My wife and I got married last year. We both had individual Capital Loss Carryovers last year. How do I merge them in this year's joint return?

[jwanderman]

I'm using TT Online this year. I uploaded my return from last year, but of course my wife's return needs to be manually entered somewhere. I just can't figure out where.

[JohnB5677]

No, you cannot merge two separate previous year's tax return information in TurboTax.  However, you will be able to post this year's information together.

• When you enter your own information in Personal Info, you have to answer the question "Were you married?"
• If you click the button for Married, then a drop down will appear that asks, "Do you want to file this return together with your spouse?"  
• Then you choose yes to file a joint return. 
• Now you can enter your spouse's information into Personal Info.  
• Note: Whenever you are entering income information there should then be a spot for you and for your spouse's income information.

If this does not completely answer your question, please contact us again and provide some additional details.

[Critter-3]

The capital loss carryforwards will be entered in the INVESTMENT section of the income tab ... go slow and read the screens carefully.  You can jump to it directly by using the search box :

[jwanderman]

Right, I can get to that section, but the only options there are to modify my 2021 carryover data. Should I overwrite that data by adding together the numbers for my wife and I?

[ErnieS0]

Yes. Overwrite the data by adding together the numbers for you and your wife.

[jwanderman]

Note to others reading - DO NOT FOLLOW THIS ADVICE. After following this advice, the information was not computed correctly. The Long Term and Short Term losses will not be carried over correctly. I just spent 2 hours on the phone with TurboTax support - still no resolution. It seems that TurboTax Online doesn't have the ability to compute this properly. I don't have a resolution to this problem yet, but wanted to leave this note in case someone else tries to follow this advice.