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

[HelenaC · Accepted solution]

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:

• What is a capital gain or loss?
• What is a capital asset?
• What's the difference between investment property and personal-use property?