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
02629
2 Replies
jayneway
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.
ColeenD3
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.