Token 64520730-97186680 problem with Cap Loss Carryforward

[kkarnes]

In TurboTax Desktop for 2025, Entries in various forms provide for a Taxable income figure that is below -0-. Further it is below -0- by more than $3000. CapLoss carryover of $3000 is being show on worksheet as used (that is expected). However the "Carryforward schedule to 2026" should not have a $3000 reduction, as the amount carried forward from prior year has not been reduced. Please advise if this is a known calculation error in the schedule and/or how to fix to not use $3000 that is not needed.

[VolvoGirl]

Uh Desktop 2025 is not out yet.  Do you mean your 2024return carrying over to 2025 that you file in 2026?

On the income page The 2024 column shows the carryover to 2025 (not your current loss for 2024).

Schedule D doesn't actually show the carryover amount. To find your  Capital Loss Carryover amount  you need to look at your  return schedule D page 2.  Line 16 will be your total loss and line 21 should be a max loss of 3,000.  The difference between line 16 and 21 is the carryover loss for next year.

There is also a Carryover Worksheet showing the carryover from the prior year and the current amounts.  Then there is also the Capital Loss Carry Forward worksheet showing the amount transferring over to next year.

In the Online version you have to save your return with all the worksheet as a pdf file to your computer to see Schedule D and the Capital Loss Carry Over and Carry Forward worksheets.

In the Desktop program you can go to Forms and find it in the list in the left column.

If you have a negative AGI or negative taxable income it will show up on 1040  BUT it won't reduce the carryover to the next year.

[kkarnes · Accepted solution]

VolvoGirl... thanks for your reply, but 2025 Desktop came out today (11/4/25) and is fully available for download and use.

I was doing proforma work for 2025 return and found the issue.

Everything else you say is correct, except the last line of your response... on the Carryover worksheet to 2026 it DID reduce the carryover despite having negative Taxable Income (and in excess of the $3000 allowable loss. If the negative TI as between $1-$2999, it should reduce the carryover by that amount.

It does not... it reduces it by the "unused $3000".

[VolvoGirl]

Sorry I don’t know any more about your problem.   But about the 2025 program…..are you on the Advantage auto renew plan?  That might come out first.   2025 is not available on the main page yet.

[kkarnes]

Yep. Advantage Auto renew is how I received it today.

I can't find any link, chat, site, etc to provide feedback to support about potential calculation errors.

Are you aware of a link/URL/etc to do this?

I believe this issue is a calculation error. There is no option to override the $3000 automatic application of carryover (which is appropriate)... According to IRS, you are supposed to show the $3000 on the worksheet, however when the Carryover worksheet is calculated, it should only include the amount of the $3000 that actually reduced TI.

Thanks for your feedback!

[VolvoGirl]

It is very very early.  The program is just a beta version and there will be many many updates to come.   So I would just wait for updates.  

[Mike9241]

for regular income tax purposes, it should be the capital loss in excess of $3000 + the amount taxable income is negative. 

early releases will likely have bugs which will be fixed as updates are released. this issue probably has already been reported for fixing but you ca always contact support.