rjs
Level 15
Level 15

Get your taxes done using TurboTax

You have a misunderstanding of how capital losses are used. Capital losses, including a capital loss carryover, are first used to offset any capital gains. There is no maximum for how much of the capital loss can be applied to capital gains. If the total capital losses are more than the total capital gains, a maximum of $3,000 of the remaining loss (that was not used to offset capital gains) can be used to reduce other income. If there is still unused capital loss, it is carried over to the next year.


It looks like you had total capital gains in 2023 of at least $7,918, so all of your capital loss carryover from 2022 was used to offset 2023 capital gains, and possibly up to $3,000 of other income. So there is no remaining loss to be carried over to 2024. If your total capital gains were $10,918 or more, then all of your capital losses were used to offset capital gains, and none of the loss was applied against other income.

 

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