Solved
Why does the 2018 capital Loss show 34,734 but the carryover for 2019 show only $28,869? Does a Gain in 2019 offset the Long Term Loss in a previous year?
No text available
Not exactly. The 2018 loss offsets the 2019 gain. In addition you are allowed to use $3,000 ($1,500, if married filing separately) as a deductible loss each year.
If your capital loss carryover was $34,734 from 2018, you would use $3000 in 2019 and carry forward $31,734. Since the amount you are carrying forward is only $28,869 to 2020, you must have had $2,865 in gains, or capital gains distributions, in 2019.
Get answers to all your tax questions
Our experts are available on-demand, no appointment needed. Get help all year long with TurboTax Expert Assist.
Explore your optionsEnter your E-mail address. We'll send you an e-mail with instructions to reset your password.
©1997-2026 Intuit, Inc. All rights reserved.
Intuit, QuickBooks, QB, TurboTax, Credit Karma, and Mailchimp are registered trademarks of Intuit Inc. Terms and conditions, features, support, pricing, and service options subject to change without notice.
Security Certification of the TurboTax Online application has been performed by C-Level Security.
By accessing and using this page you agree to the Terms of Use.
© 2026 Intuit Canada ULC or its affiliated companies. All rights reserved. Intuit, QuickBooks, QB, TurboTax and ProFile are registered trademarks of Intuit Inc. Terms and conditions, features, support, pricing, and service options subject to change without notice.
Copyright © Intuit Canada ULC, 2026. All rights reserved.
© 2026, Entreprises Intuit Canada ULC ou ses sociétés affiliées. Tous droits réservés. Intuit, QuickBooks, QB, TurboImpôt et ProFile sont des marques déposées d’Intuit Inc. Les modalités, prix, fonctions et options de service et de soutien peuvent changer sans préavis.
© 2026, Entreprises Intuit Canada ULC. Tous droits réservés.