You'll need to sign in or create an account to connect with an expert.
No, you can't do that. You have no choice about when your capital loss carryover is used. The calculations have to be done as specified in the tax law, and there is only one way to do it. The full amount has to be carried over from one year to the next. Each year it is applied first to any capital gain that you have, and then up to $3,000 is applied against other income. You can't skip years or carry over less than the full amount.
No, you can't do that. You have no choice about when your capital loss carryover is used. The calculations have to be done as specified in the tax law, and there is only one way to do it. The full amount has to be carried over from one year to the next. Each year it is applied first to any capital gain that you have, and then up to $3,000 is applied against other income. You can't skip years or carry over less than the full amount.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
StackerP
New Member
Jbroo
New Member
QWJLEGEND
Level 2
arasu245
Returning Member
RKT12
New Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.