turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

I got married in 2016, can I use her capital loss carryover? She did not have taxable income but has filed a return each year only to repay her Home Buyers Credit.

 
Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Best answer

Accepted Solutions

I got married in 2016, can I use her capital loss carryover? She did not have taxable income but has filed a return each year only to repay her Home Buyers Credit.

Congratulations! 

Yes, you may. 

View solution in original post

9 Replies

I got married in 2016, can I use her capital loss carryover? She did not have taxable income but has filed a return each year only to repay her Home Buyers Credit.

Congratulations! 

Yes, you may. 

I got married in 2016, can I use her capital loss carryover? She did not have taxable income but has filed a return each year only to repay her Home Buyers Credit.

Thanks Cheryl.  Was it clear that her capital loss was not reported on her 2015 and earlier years' returns?  Her son prepared her return each year just to pay back the Home Buyers' Credit.  I am now preparing our first joint return.

I got married in 2016, can I use her capital loss carryover? She did not have taxable income but has filed a return each year only to repay her Home Buyers Credit.

I don't know how it was reported.  Look on her Schedule D, page 2 of her 2015 return for her loss carryover.

I got married in 2016, can I use her capital loss carryover? She did not have taxable income but has filed a return each year only to repay her Home Buyers Credit.

Since her son knew that she would have no taxable income he did not bother to enter her 1009-B or 1099-DIV on her return at all.

I got married in 2016, can I use her capital loss carryover? She did not have taxable income but has filed a return each year only to repay her Home Buyers Credit.

Then you'll have to recreate her capital loss.  Go to the earliest year that she had one, and add that to the subsequent years.

I got married in 2016, can I use her capital loss carryover? She did not have taxable income but has filed a return each year only to repay her Home Buyers Credit.

Thanks Cheryl!!!  That was the answer I was hoping for!!!  Should I file amended returns for previous years to report the carryover to the IRS?

I got married in 2016, can I use her capital loss carryover? She did not have taxable income but has filed a return each year only to repay her Home Buyers Credit.

Interesting question, I would just keep the documentation, if they come back to you then you can worry about amending.  It

I got married in 2016, can I use her capital loss carryover? She did not have taxable income but has filed a return each year only to repay her Home Buyers Credit.

OK Thanks so much. TurboTax is the best.

I got married in 2016, can I use her capital loss carryover? She did not have taxable income but has filed a return each year only to repay her Home Buyers Credit.

My pleasure.  We think so too!
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies