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kerry2000
New Member

I have capital losss carry forward but turbo tax will not allow me to override what can I do? it is not allowing any of the carry forward

 
3 Replies

I have capital losss carry forward but turbo tax will not allow me to override what can I do? it is not allowing any of the carry forward

Are you trying to use a capital loss carried forward from a previous year or are you trying to carry forward a 2024 loss into the future?

 

kerry2000
New Member

I have capital losss carry forward but turbo tax will not allow me to override what can I do? it is not allowing any of the carry forward

carry forward from prior year to 2024

using easy step to complete

I have capital losss carry forward but turbo tax will not allow me to override what can I do? it is not allowing any of the carry forward

First enter your Capital Gains for the year. Then go to the Losses section & check off "Net Capital Loss Carry Forward". Continue until you get to that page. Enter your capital losses from previous years and then click Continue to get to the page where you can enter how much of the loss carry forward you want to use for the current year.

 

You can only use a maximum of whatever your taxable capital gains are for the year. Remember that only 50% of your total capital gains are taxable, and that's reduced by any losses that you had in the current year (before any previous year's losses are applied). 

 

 

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