SharonD007
Expert Alumni

Investors & landlords

You only get to deduct the $60 capital gain loss for one year. . You would only deduct the $60 loss in 2021. The maximum capital gains loss you can deduct each year is $3,000 and since your loss was only $60, you won't carryover a capital gains loss for any other year.

 

Refer to the TurboTax articles Where do I enter a capital gain or loss? and A Guide to the Capital Gains Tax Rate: Short-term vs. Long-term Capital Gains Taxes.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post