To carry back a net capital loss, you can follow these steps:
- From the toolbar, select Find (the magnifying glass icon).
- Type losses in the search bar.
- Select Losses from the search results, then Go.
- Select the Request for Loss Carryback box.
- Select Continue until you reach the Net Capital Loss Carrybacks screen.
- The maximum net capital loss that you can carry back is listed. Enter the amount(s) you wish to carry back for each applicable year, then select Continue.
- You have now carried back your net capital loss. Your carryback amounts won't affect this year's tax return.
For any additional questions, please contact our team here.