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New Member
posted Oct 31, 2019 4:23:49 AM

I am using turbo tax standard and the carry loss from previous years doesnt reduce my current capital gains . also no chart 4 available

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1 Best answer
New Member
Oct 31, 2019 4:23:50 AM

In addition to indicating that you have a carry loss from previous years, you also need to indicate the amount you would like to claim for the current year. 

To indicate the amount you would like to claim, on the left hand side under Deduction => Losses, click on the Loss Profile. In the Loss Profile, make sure you selected that you have a Net Capital Loss Carry Forward. Continue through the steps and eventually it will also ask for how much loss you would like to claim this year. I've attached a couple of screenshots. Hope this helps.

1 Replies
New Member
Oct 31, 2019 4:23:50 AM

In addition to indicating that you have a carry loss from previous years, you also need to indicate the amount you would like to claim for the current year. 

To indicate the amount you would like to claim, on the left hand side under Deduction => Losses, click on the Loss Profile. In the Loss Profile, make sure you selected that you have a Net Capital Loss Carry Forward. Continue through the steps and eventually it will also ask for how much loss you would like to claim this year. I've attached a couple of screenshots. Hope this helps.