Minimal income on net gains in 2017 and previous year capital loss carryover optional filing

[ign]

I earned an income in 2017 in the amount of a few hundred dollars over the minimum filing requirement of $10,400: ~$10,700. It is only capital net gains and a little bit of dividends, no W2 wages. The standard deduction is roughly $6,400 and plus one exemption $4,000. 

I have capital losses in 2016 in the amount of $3,000, which I haven't reported yet and I may elect to do so (dual resident in 2016). Can you please tell me does it make any sense to file my 2016 net losses? The return itself costs roughly $500 (dual resident). Would the loss carry over to the next year (2018) or it will just reduce my income in 2017 which is already reduced by the standard deduction and the exemption so my taxes are just $30. 

Thank you very much. 

P.S.: What about the state taxes? New York.

[Critter]

Since you are over the filing requirement then you must file a return and the filing requirement is on the gross sales not the net  and yes, the loss carryover will be carried forward after the use of any loss needed. 

If you have to file a 1040, and your income is this low, you could use the TT FREEDOM version that you get thru this link when it is operational later in January ...  https://turbotax.intuit.com/taxfreedom

[ign]

My question is will my 2016 loss be carried over to 2018 or will it be used up in 2017 in my specific situation? If it’s used up in 2017 then it doesn’t make any sense to bother with my 2016 dual resident return since my 2017 tax is only $40.

Thank you.

[TaxGuyBill]

The $3000 loss would be used up.  Sorry.

[ign]

Thank you, TaxGuyBill. So if it's either exemption or my 2016 loss then it is not beneficial to bother with 2016 return.