Hal_Al
Level 15

Deductions & credits

Yes, but not exactly. You must use as much of the loss, as possible, on your 2015 return, Only the excess, is carried forward to 2016.

Any capital loss realized in 2015 is first applied (used) against any 2015 capital gains (long term or short term, including capital gains distributions). Any excess, up to $3000, is deducted from other income and any excess, over that $3000, is carried forward to next year.

If your income was so low, in 2015, that your calculated tax was 0, see https://ttlc.intuit.com/questions/2566411-do-i-have-to-use-a-capital-loss-carryforward-even-if-i-hav...  for further explanation. TurboTax can still handle it and the the carry over should be automatic.

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