How can I manually reverse $3K capital loss applied by TT, given our taxable income is <$6K after deductions, so I can carry forward more capital loss to next year?
01892
1 Replies
ThomasM125
Expert Alumni
Feb 24, 2025 11:04:49 AM
The capital loss allowed deduction of $3,000 per year must be taken in the current year, you are not allowed to carry it forward even if you don't have any capital gains in the current year.