I am 76 years old. I have large capital losses in taxable accounts that are carried over from previous years and of course this year has only made them worse. Although I am doing well on my investments in my IRAs, I can't seem to book many capital gains in my taxable accounts. What happens to these loss carryovers when a taxpayer dies? It is only possible to recognize a net $3000 loss in any year and as far as I can recall this amount is never adjusted for inflation. I'm afraid I won't live long enough to work them off. Does the IRS just keep this money when a taxpayer dies? Thank you to anyone who can answer this.
