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cooknwright
New Member

Do i have to use my capital loss carry over if I do not need it? My taxable income is $10,000.00

 
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HelenaC
New Member

Do i have to use my capital loss carry over if I do not need it? My taxable income is $10,000.00

Unfortunately, you cannot pick and choose which future tax year(s) you wish to apply your carryover to. Carryovers from this year's return must be applied to next year's return.

  • If you transferred last year's return over, we automatically include the carryovers. However, it's always a good idea to keep a written record of your expected carryover amounts to compare against your return.

For additional information, see What is a capital loss carryover?

Related Information:

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HelenaC
New Member

Do i have to use my capital loss carry over if I do not need it? My taxable income is $10,000.00

Unfortunately, you cannot pick and choose which future tax year(s) you wish to apply your carryover to. Carryovers from this year's return must be applied to next year's return.

  • If you transferred last year's return over, we automatically include the carryovers. However, it's always a good idea to keep a written record of your expected carryover amounts to compare against your return.

For additional information, see What is a capital loss carryover?

Related Information:

View solution in original post

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