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New Member
posted Jun 1, 2019 12:50:39 AM

Can i carry gifted land held 20 years directly to my schedule D and use my carry over long term loss and pay capital gains tax on the balance?

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1 Best answer
Level 15
Jun 1, 2019 12:50:42 AM

Technically it goes to the form 8949 and then to the Sch D but yes you can.

4 Replies
New Member
Jun 1, 2019 12:50:39 AM

Did you sell the gifted land?

New Member
Jun 1, 2019 12:50:40 AM

yes, in 2018

Level 15
Jun 1, 2019 12:50:42 AM

Technically it goes to the form 8949 and then to the Sch D but yes you can.

New Member
Jun 1, 2019 12:50:46 AM

Yes, your capital loss carry forward will offset your capital gains from the sale of the land.