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New Member
posted Apr 20, 2021 12:03:31 PM

If my income after using exemption is below standard deduction, do I still need capital loss carryover? My taxable income is already 0, deducting $3000 changes nothing.

My original income is above standard deduction. I have a $5000 tax treaty exemption and $3000 carryover losses

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2 Replies
Level 3
Apr 20, 2021 12:07:17 PM

You can keep entering in your carryover loss yearly. if in the  future you have a capital gain this can be applied to it.

Expert Alumni
Apr 24, 2021 3:13:37 PM

You can't skip years. The loss has to be entered every year, whether you can use it or not.