For 2020 I have a capital loss of $433. (There were no capital gains, only that loss from the sale of an ETF.) Can that $433 be carried over to 2021 to offset capital gains that will be on the 2021 return? Right now I think I have finished my 2020 return and it looks like TurboTax is applying the capital loss to my income for 2020. However I am not even using up all of my standard deduction this year, since income is so low. Therefore I think it would be more beneficial to use the capital loss on the 2021 return, if that can be done, rather than on the 2020 return, since it would then help offset capital gains that will be there for 2021. For 2020 I will pay 0 taxes whether or not the capital loss is deducted from income.
