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markfrombrooklyn
New Member

Can capital loss carryovers from 2010 be carried over to 2016 return if no returns were filed for tax years 2011 through 2015 because of no income.

In preparing 2016 return, can capital loss carryovers from 2010 return be used when there were no return filed in any year from 2010 to 2015 because of minimal income not requiring filing of a tax return?

2 Replies
RichardK
New Member

Can capital loss carryovers from 2010 be carried over to 2016 return if no returns were filed for tax years 2011 through 2015 because of no income.

Yes,

To enter Capital Loss Carryover  in Turbotax Premier:

·        Open your return

·        Select Federal Taxes

·        Select Wages & Income

·        Scroll down and select All income

·        Scroll down and select Investment Income

·        Scroll down to Capital Loss Carryover

markfrombrooklyn
New Member

Can capital loss carryovers from 2010 be carried over to 2016 return if no returns were filed for tax years 2011 through 2015 because of no income.

Thank you. Are you sure that IRS rules allow this?  I cannot find anything in their publications that addresses this issue. Everyone seems to assume that all taxpayers must file every year. Thank you.
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