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Level 3
May 27, 2020
Question

Carryover stock loss from previous year

  • May 27, 2020
  • 1 reply
  • 21 views

I am preparing a tax return for a new client who have a carryover stock loss from schedule D the previous year. He was able to write off $3000 loss for the tax year 2018. Since I am preparing his tax return for the first time, where do I enter the loss on his tax return for the current tax year.

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1 reply

Just-Lisa-Now-
Intuit Community Champion
May 28, 2020

Federal carryover worksheet has a place for capital loss carryovers,  You'll want to find Sch D, page 2 in the prior years return and see how much is left to carry over.

If you click the green Where Do I Enter button on the toolbar and type Federal Carry  it should popup in the list

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