Yes. You can still reduce your income by 3,000 each year. You have to report the carryover every year until it's used up. You can't skip a year. Even if you don't report it on your return you have to reduce it by the 3,000 (1,500 MFS) when you carry it over to next year. You can't choose when to use it.
But If you have a negative AGI or negative taxable income it will show up on 1040 BUT it won't reduce the carryover to the next year.
