Capital losses his higher than $3000

[john-avery]

Confused why my carry forward years capital losses state $3003 if only $3000 is allowed.

[VolvoGirl · Accepted solution]

Carry forward is the amount to next year.   It is not limited.

On the income page The 2024 column shows the carryover to 2025 not your current loss for 2024.  The 2023 column shows the carryover to 2024 not the loss for 2023.

And Schedule D doesn't actually show the carryover amount to next year. To find your Capital Loss Carryover amount you need to look at your return schedule D page 2.  Line 16 will be your total loss and line 21 should be a max loss of 3,000.  The difference between line 16 and 21 is the carryover loss for next year.

BUT if you have a negative AGI or negative taxable income it will show up on 1040  BUT it won't reduce the carryover to the next year.

There is also a Carryover Worksheet. There is a Capital Loss Carryover Worksheet showing the carryover from the prior year and the current amounts.  Then there is also the Capital Loss Carry Forward worksheet showing the amount transferring over to next year.

In the Online version you have to save your return with all the worksheet as a pdf file to your computer to see the Capital Loss Carry Over and Carry Forward worksheets.