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New Member
posted Jun 3, 2019 11:17:51 AM

Capital loss carryover question

Can I opt for not using capital loss carryover this year, but save it for the future?

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1 Best answer
Intuit Alumni
Jun 3, 2019 11:17:53 AM

Unfortunately, no. It must be entered on your return every subsequent year until it is used up.

You must report the capital loss carry forward on your current year return. You are not allowed to postpone using it or saving it for a more advantageous time.

The actual is answer is more complex. Although you have to report it, it may not all get wasted (used). The best thing to do is prepare a tax return (even if you aren't required to file) to accurately calculate the carry over to the next year.


2 Replies
Intuit Alumni
Jun 3, 2019 11:17:53 AM

Unfortunately, no. It must be entered on your return every subsequent year until it is used up.

You must report the capital loss carry forward on your current year return. You are not allowed to postpone using it or saving it for a more advantageous time.

The actual is answer is more complex. Although you have to report it, it may not all get wasted (used). The best thing to do is prepare a tax return (even if you aren't required to file) to accurately calculate the carry over to the next year.


New Member
Aug 15, 2019 2:42:16 PM

 17 return I had a $114,000 carry f loss and the IRS adjusted my income by $17,800 does that mean I carry forward the 114 number less the 17 numbers on?