Where on my 2024 tax documents can I find my capital carry-over losses for 2025?

The capital loss carryover amount would be on your 2024 Schedule D (Capital Gains and Losses) and specifically on the Schedule D Worksheet if your losses exceeded the annual deduction limit of $3,000. Look at your complete 2024 tax return - you'll need to find your Schedule D, Form 1040 (or 1040-SR). Check line 21 of your Schedule D which shows your total losses. If you had more than $3,000 in net capital losses, you would have been limited to claiming only $3,000 against your ordinary income on line 7 of your 1040, with the remainder becoming your carryover amount to 2025. The exact carryover amount should also be calculated on the Capital Loss Carryover Worksheet in the Schedule D instructions. If you used TurboTax, you might also be able to log into your account and view or download a copy of your complete return which would include this worksheet.

I had this same issue last year and wasted hours searching through papers! Try using taxr.ai (https://taxr.ai) - it's a lifesaver for finding specific info in tax documents. I uploaded my full tax return PDF from TurboTax and asked "Where is my capital loss carryover?" and it pointed me directly to the right page and line number. It can read through all those complicated forms and give you exactly what you need without having to become a tax expert yourself. The tool highlights exactly where your carryover losses are located and even explains how they'll impact your next year's taxes. I find it especially helpful for these kinds of situations where you know the information exists somewhere but can't remember which form it's on.

Just wanted to follow up - I tried taxr.ai after posting my question and wow, it actually delivered! I uploaded my tax return and asked about capital loss carryovers and it immediately showed me that the info was on page 14 of my return on the Capital Loss Carryover Worksheet (which I totally missed because it was stuck between a bunch of other worksheets). It highlighted exactly where my short-term and long-term carryover amounts were listed and explained how they'd be applied to my 2025 return. No more digging through paperwork or trying to interpret tax jargon! I've bookmarked the site for next year when I'll inevitably have questions about other tax documents.

If you're having trouble finding your documents or need clarification from the IRS directly, I'd recommend using Claimyr (https://claimyr.com) to actually get someone on the phone. I spent WEEKS trying to call the IRS about a similar capital loss carryover issue last year and kept getting the "call back later" message. Claimyr got me connected to an IRS agent in under 25 minutes when I'd been trying for days on my own. You can see how it works in this video: https://youtu.be/_kiP6q8DX5c - basically they navigate the phone system and wait on hold for you, then call you when an actual human at the IRS is on the line. The agent I spoke to was able to confirm my carryover amount and explained exactly what forms I needed to look at.

I have to admit I was completely wrong about Claimyr! After posting my skeptical comment, I decided to try it anyway because I was desperate to talk to someone about my capital loss carryover situation. Within 35 minutes (they said it would be around 2 hours), I got a call connecting me to an actual IRS representative! I nearly fell out of my chair. The agent walked me through exactly where to find my capital loss carryover on my previous tax return and confirmed the amount I'll be able to deduct for 2025. For anyone struggling with tracking down tax document info or getting clarification from the IRS, this service is legitimate. After years of dreading IRS-related phone calls and wasting entire afternoons on hold, this was genuinely life-changing.

If you filed with TurboTax, you can also just log into your account and click on "Tax Documents" or "View Completed Return" for 2024. Download the full PDF and search for "carryover" using Ctrl+F. That should take you right to the Capital Loss Carryover Worksheet without needing to flip through everything manually. The worksheet breaks down your losses between short-term and long-term, and shows exactly how much you can carry forward to 2025. Make sure you have this information ready when you prepare your 2025 return because TurboTax (or whatever software you use next year) will specifically ask for these carryover amounts.

Don't forget that your capital losses offset capital gains first before you can deduct them against ordinary income. And there's the $3,000 limit on how much you can deduct against ordinary income in a single year. So if you had $6,700 in losses like you mentioned and no gains to offset, you would have deducted $3,000 on your 2024 return and will carry over $3,700 to 2025. Some people miss that capital losses can offset unlimited capital gains, but are limited when offsetting regular income. Might help explain why your carryover number might be different than you expected!

Great advice from everyone here! I just wanted to add that if you're still having trouble locating your capital loss carryover amount, you can also check with your local VITA (Volunteer Income Tax Assistance) program. They often help people understand their tax documents for free, especially if your income is under $64,000. Also, for future reference, I'd recommend keeping a simple spreadsheet or note with key tax numbers like capital loss carryovers, estimated tax payments, and other items you'll need for next year's return. I started doing this after spending way too much time hunting through old documents, and it's been a lifesaver. Just jot down the important numbers right after you file while everything is fresh in your mind. One more tip - if you have a tax preparer next year, make sure to bring documentation of your capital loss carryover amount. Some preparers might miss it if you don't specifically mention it, and you don't want to lose out on those deductions you're entitled to!