To post a Capital Loss Carryover to your 2021 tax return:
- Wages & Income
- Scroll to Investment income
- Select Capital loss Carryover
- Make your corrections
You are allowed a maximum capital loss in any one year of $3,000, and any excess loss can be carried forward to future years to offset gains. Each subsequent year also has a maximum loss limitation of $3,000.
There is no limit to the number of years you can carry a capital loss forward. However, you are not allowed to carry a capital loss back to a year before the capital loss occurred.
Your carryover amount will be any remaining short-term losses along with all your long-term losses. If you have less in short-term losses, then first use any short-term losses you do have, and then take long-term losses to take you up to the $3,000 total. Any remaining long-term losses in that situation are eligible to carry over.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
