Capital gain loss carryover offsetting $22k stock gains. 1040 line 43, <15% tax bracket, cap. gain rate is 0%. Any way of NOT using loss carryover? Other income SS $19K.

hy2a3 · ‎June 4, 2019

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I have long term Capital Gain Loss Carryover of $80000. On the 1040, my only income are (1) line 13 long term capital gain from stock of $21000 and (2) line 20 social security benefits of $19000. Married and filing jointly. We are taking standard deduction. To my rough calculations, we are either in the 10-15% tax bracket, so capital gain tax rate should be 0% on the $21k. Question: Why is TurboTax using my using $21K of our $80k carryover to offset the line 13 gains? I really would not need to utilizing my carryover since my tax bracket puts us in the 0% for capital gain tax. Thanks.

Capital gain loss carryover offsetting $22k stock gains. 1040 line 43, &lt;15% tax bracket, cap. gain rate is 0%. Any way of NOT using loss carryover? Other income SS $19K.

Capital gain loss carryover offsetting $22k stock gains. 1040 line 43, <15% tax bracket, cap. gain rate is 0%. Any way of NOT using loss carryover? Other income SS $19K.