@MelWetzger wrote:
QUESTION(S): But, can I defer or not use the $3000 Capital Loss to a later year?
Or do I have to use the $3000 loss, even though it does not help lower my taxes?
No. and yes. The carry-over must be applied to each tax year until exhausted. Failing to carry forward and skipping a year forfeits any remaining carry over loss. The entire $3,000 can only offset the years tax liability. If the tax liability less than $3,000 then less will be used.
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
