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Yes, you can deduct your auto expenses against your business or supplemental income Follow these steps to enter your vehicle expenses in TurboTax:
Have loss carry-forward Short-term and long-term Where do I put that
To enter a capital loss in TurboTax Online:
What is a capital asset, and how much tax do you have to pay when you sell one at a profit? Find out how to report your capital gains and losses on your tax return.
A capital loss is a loss on the sale of a capital asset such as a stock, bond, mutual fund or real estate. As with capital gains, capital losses are divided by the calendar into short- and long-term losses.
You can deduct capital losses.
But there are limits. Losses on your investments are first used to offset capital gains of the same type. So, short-term losses are first deducted against short-term gains, and long-term losses are deducted against long-term gains. Net losses of either type can then be deducted against the other kind of gain.
For example,
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