In 2015 & 2016 I have $28,000 in short term capital loss. In 2016 I did not file Fed tax. Can I place the full $28,000 in the short-term capital loss carryover column?

[TaxGuyBill]

You need to calculate if any of the $28,000 could have been used on the 2016 tax return, and reduce the $28,000 by what would have been allowed on the 2016 tax return.

[wogel]

hi bill & thanks for the response; in 2016 i had a short-term capital loss ($11k), no income and did not file a tax return; i assume nothing would have been allowed (no offset, if you will)...is this a band assumption?

[wogel]

*bad

[TaxGuyBill]

If you had zero income, you are correct, there would be no offset and it would all carry to 2017.

[wogel]

Bill, thanks so much i appreciate your input; 2017 was a much better year and i'm happy to have exhausted my carryovers; have a great tax season!!

[TaxGuyBill · Accepted solution]

You are welcome.  I'm glad I could help you.