Where can I enter Capitol loss carryover from last year manually? I was not using turbotax in 2017 & I have not yet mailed my 2017 return 2 IRS, but I know the $ amounts

[ptk515]

Where do I enter the short term capital loss carryover $12,000 and the yearly loss deduction of $3,000  that is allowed every year?  I forgot to put it in or did not see it, but I have not filed or mailed my 2018 return yet.  P.S.  I just did also my 2017 2 weeks ago but also have not yet mailed it in, but was done with another tax program.

[KittyM · Accepted solution]

In your Federal return type "capital loss carryover" in the Search Box in the upper right corner of your TurboTax screen, then click the "Jump to" link.  This will take you directly to the location to enter your capital loss.

(Please note the spelling difference in "capital".  It's crucial to finding the "Jump to" link you need.)

[ptk515]

I followed your recommended answer and it worked to a point, when I did it, it took me to this answer:  Schedule D is required by the IRS to report your investment income or losses, which is not covered by TurboTax Free Edition.  So just to put in the  $ amount  I know, Turbo Tax says I have to pay for a Schedule D.  I have been deducting this amount every year and nothing needs to be explained to IRS only put in the $3,000 tax deduction from the original amount and I know both $ amount so I don't see why I should pay for this, it's a rip off.  Unless it was a new deduction and I would have to go through a bunch of questions, but it is a yearly same amount deduction.  Unless there is a way to enter in the FREE TurboTax I will have to go with another software program where it allows me to do it for free.  Let me know.

[VolvoGirl]

Sorry you need Premier to enter a Capital Loss Carryover.  Or you can use any Desktop program.  

Or if you qualify there is The Turbo Tax Free File program which is free for federal and state.  And has more forms than the Federal Free Edition, like Schedules A, B, C , D, E, F, EIC, H, K-1, SE,  etc.

NOTE:  You will have to setup a new account with a new username and new password or it will take you back to regular Turbo Tax.

To qualify for the Tax Freedom website  you just need to meet one of these 3 things
AGI $34,000 or less
Active duty military with AGI of $66,000 or less
OR qualify for EIC (earned income credit.)

In order to use the Free File program, you have to start it at a special website.  Click on the bottom Orange button I Qualify Start Now and set up a NEW account
<a rel="nofollow" target="_blank" href="http://turbotax.intuit.com/taxfreedom/">http://turbotax.intuit.com/taxfreedom/</a>

[ptk515]

I do qualify for the Tax Freedom website I went to the special website and followed your instructions but my tax return i started with my log in popped up, i signed in but i was right where I was before, and said  Sorry you need Premier to enter a Capital Loss Carryover.  I did not set up a NEW account.    Does that mean i have to start from beginning and with new log in etc. and start from beginning and fill in everything all over again?  and hoping that it won't say Sorry you need Premier to enter a Capital Loss Carryover again and I went through all that for nothing.  Will it work if I set up a NEW account?  because I do qualify.  I might have done my 2016 tax in Taxfreedon]m.  How can I find out?  so the 2017 and 2018 taxes would transfer which I have not done yet.  

[VolvoGirl]

Exactly.  You have to create a new account over there and start all over.  New username and  new password.  No the prior year returns will not transfer to or into Free File website.  Free File website was called Tax Freedom before.  

[VolvoGirl]

I posted some more info below.

[ptk515]

Did you say that the Tax Freedom website does not transfer my info  from 2016 or into the future 2019 for next year even if  I still qualify?  so every year I start new?  Also wth this web site I can do free Federal, State returns including Schedule D ??  Thank you.

[VolvoGirl]

Yes to all.  Can not transfer from prior year or to next year.  Every year is new.  Yes all free.  But if you end up not qualifying you can not upgrade to a higher version either.  Would have to start over again in the regular Turbo Tax.

[VolvoGirl]

In order to use the Free File program, you have to start it at a special website.  Click on the bottom Orange button I Qualify Start Now and set up a NEW account

http://turbotax.intuit.com/taxfreedom/ 

Do not sign in at the top.  Use the bottom I QUALIFY START NOW

and set up a new account or it will take you back to regular Turbo Tax.

How to switch to Tax Freedom

https://ttlc.intuit.com/replies/3491786 

[VolvoGirl]

You will need to use the Online Premier version or Self Employed version to enter that.  Or any of the Desktop CD/Download programs.

Another way to get there
Enter a Capital Loss Carryover under
Federal Taxes or Personal (Home & Business)
Wages and Income
Then scroll down to Investment Income
Capital Loss Carryovers - Click the Start or Update button