Is this correct?
I read this.
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A noncorporate taxpayer (individual, trust or estate) may carry forward unused capital loss indefinitely. The carried over losses retain their character as long-term or short-term losses (IRC § 1212(b)). See Explanation: §1212, Non-Corporate Taxpayer's Capital Loss Carryover. An individual may also carry back net IRC § 1256 contract losses for three years (IRC § 1212(c)). See Explanation: §1212, Individual’s Carryback of Capital Losses from Sec. 1256 Contracts. Otherwise, noncorporate taxpayers cannot carry back capital losses.
The site is here. https://answerconnect.cch.com/document/arp28d1b3da7a7b[phone number removed]1b78be8c7808bCOPY/federa....
