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All capital loss carryovers must travel from year to year on the Sch D ... so did you really have a LOSS carryforward ?
Yes, It goes back to 11 years ago. That was the last time I had it on Sch D.
Okay so the loss carryover needs to be listed somewhere. Each year the loss is reported on the schedule d and the amount allowed on line 13 of the form 1040 and the rest is carried forward and should be reported on a worksheet showing the calculation of the carry forward. So have you been filing a tax return every year for the past 11 years? Or have you not been required to file for all those years?
I have filed my taxes each year, but because of low income, I didn't include the schedule D or carry over loss.
Well that was an unfortunate mistake ... so to fix it you will need to compute how much (if any) of the loss you should have included on the returns all those prior tax years to determine how much is left over to use this year. If you had included the carryforward loss every year then the program would have done this for you automatically so don't forget to do it going forward.
So, you mean for example take off $30000 for 10 years ? Thanks
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