Thanks for your previous reply. I should have specified that I had a carryover of approximately $3,500 from my business. The carryover was a result of my expenses being more than my income.
So from your previous answer this is what i am thinking.
The carryover never expires.
I can use the carryover to reduce my taxes if I have earned income or I sell a house that nets me more than $250,00
If I am correct then I have one more question.
I am assuming that my carry over can only be used for earned income from a business or from the sale of my house but will not reduce my income from the sale of stocks or any unearned income such as interest, dividends or capital gains.
Thanks again.
Joel
