We've officially retired and will have the same income annually via pensions and SS. It appears that the loss carryover of $3,000 annually does not impact the outcome of zero taxes owed as we simply qualify for the standard deduction. I understand once I stop claiming the loss that I cannot claim it in future.
So my question is this, am I safe to assume that unless our income is more than the standard deduction ($29,200) that there is no reason to continue to claim the loss? the only real change I could foresee in the future might be when a parent passes and we have income that year, otherwise income should be the same.
If I don't use the loss then I'm able to file for free saving me $89 a year
