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hyunbbayi
New Member

I have Net short Term Capital Gain: $1289 and net long term capital loss -$3,556 from 2015. Do I have any loss carryover in Federal and State in this 2016?

I have Net short Term Capital Gain: $1289 and net long term capital loss -$3,556 from 2015. Do I have any loss carryover in Federal and State in this 2016?
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MichaelL1
Level 15

I have Net short Term Capital Gain: $1289 and net long term capital loss -$3,556 from 2015. Do I have any loss carryover in Federal and State in this 2016?

No, you don't have a carryover, as the two are netted and the Capital loss is less than $3,000 on the 2015 return.

Line 13 of the 2015 return has to be a -$3,000 for there to be a capital loss carryforward.  

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MichaelL1
Level 15

I have Net short Term Capital Gain: $1289 and net long term capital loss -$3,556 from 2015. Do I have any loss carryover in Federal and State in this 2016?

No, you don't have a carryover, as the two are netted and the Capital loss is less than $3,000 on the 2015 return.

Line 13 of the 2015 return has to be a -$3,000 for there to be a capital loss carryforward.  

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