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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1 Best answer
MichaelL1
Level 15
Jun 5, 2019 11:42:14 AM
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.
1 Replies
MichaelL1
Level 15
Jun 5, 2019 11:42:14 AM
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.