Determining where my carry over capital loss came from

ronross1 · ‎May 31, 2019

I see capital losses of 617 from 2015 so i'm confused on my 2016 taxes as to why there is a carryover.

DexterS · ‎May 31, 2019

You are allowed to deduct up to $3,000 of capital losses against your other income in any given year.

If you have more than $3,000 of losses the amount over $3,000 is carried forward to the following year.

From your question, I take it that in 2015 you had total capital losses of $3,617. The $3,000 was deducted in 2015 and the balance carried forward to 2016.

View solution in original post

DexterS · ‎May 31, 2019

You are allowed to deduct up to $3,000 of capital losses against your other income in any given year.

If you have more than $3,000 of losses the amount over $3,000 is carried forward to the following year.

From your question, I take it that in 2015 you had total capital losses of $3,617. The $3,000 was deducted in 2015 and the balance carried forward to 2016.