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I have a 2024 capital gains loss. Do I need to carry it over to 2025 or can I delete it from the filing and not use it/carry it over for 2025? I do not need it.

 
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2 Replies

I have a 2024 capital gains loss. Do I need to carry it over to 2025 or can I delete it from the filing and not use it/carry it over for 2025? I do not need it.

The capital loss has to carried over for each and every tax year until it is all used up.

 

For a capital loss carryover -

Click on Federal Taxes (Personal using Home and Business)
Click on Wages and Income (Personal Income using Home and Business)
Click on I'll choose what I work on (if shown)
Under Investment Income
On Capital Loss Carryover, click the start or update button

SharonD007
Expert Alumni

I have a 2024 capital gains loss. Do I need to carry it over to 2025 or can I delete it from the filing and not use it/carry it over for 2025? I do not need it.

Yes, you need to carryover your 2024 capital loss over to 2025, even if it doesn't give you a tax benefit. 

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