MindyB
Expert Alumni

Get your taxes done using TurboTax

If you have capital gains, you will use more than $3,000 of capital loss carryover in the current year. $3,000 is the maximum loss allowed.  Please verify that your tax return does not show a loss of less than negative $3,000 on Form 1040 line 7. 

 

Here is some more information you may find helpful: Capital Gains and Losses