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USTaxAdvising, Accountant
Category: Capital Gains and Losses
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Experience:  Professional in capital gains and finance related questions
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If I am filing an amended return capital loss carryover what

Customer Question

If I am filing an amended return for a capital loss carryover what line is it entered on on the 1040x?
Submitted: 2 years ago.
Category: Capital Gains and Losses
Expert:  USTaxAdvising replied 2 years ago.


If the only change from the original Form 1040 is the addition of a capital loss from a carryover then it would be entered on Form 1040X page 1 line 1. Note that the capital loss carryover will decrease adjusted gross income.

You need to prepare a new Form 1040 and include the carryover loss carryover on Schedule D Part I line 6 (if short term) and Part II line 14 (if long term). The amount will then be taken to Form 1040 line 13 and reduce adjusted gross income on line 37.

Let me know if you have any further doubts and I will get back to you as soon as I can.

Best regards,