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New Member
posted May 31, 2019 8:09:34 PM

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.

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1 Best answer
Level 3
May 31, 2019 8:09:36 PM

Congratulations! 

Yes, you may. 

9 Replies
Level 3
May 31, 2019 8:09:36 PM

Congratulations! 

Yes, you may. 

New Member
May 31, 2019 8:09:37 PM

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.

Level 3
May 31, 2019 8:09:39 PM

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

New Member
May 31, 2019 8:09:41 PM

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.

Level 3
May 31, 2019 8:09:43 PM

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.

New Member
May 31, 2019 8:09:45 PM

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?

Level 3
May 31, 2019 8:09:46 PM

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

New Member
May 31, 2019 8:09:48 PM

OK Thanks so much. TurboTax is the best.

Level 3
May 31, 2019 8:09:51 PM

My pleasure.  We think so too!