iyerks111
Returning Member

Capital Losses less than income

Hello

 

My daughter had an income of $650 in 2023, but had $6,000 in capital losses from the sale of stocks. So her AGI was negative 2,350, after the 3,000 capital loss that is allowed every year. Another 3,000 loss has been carried forward to next year. However, it seems like I am getting no benefit for taking the loss last year. Is that the way it is supposed to be, or is there a way to NOT take the 3,000 loss when filing taxes this year and move the entire 6,000 to next year, when I think her income will be more than 6,000, so she can benefit from the full 6,000 loss. Thanks in advance.