turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

My capital loss carryover was automatically calculated. Should I remove it?

 
Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

3 Replies
ee-ea
Level 15

My capital loss carryover was automatically calculated. Should I remove it?

No. Do not remove it.

QuRuCo
New Member

My capital loss carryover was automatically calculated. Should I remove it?

What is used to calculate those numbers?

JohnB5677
Expert Alumni

My capital loss carryover was automatically calculated. Should I remove it?

@QuRuCo   Taxpayers are limited to a maximum capital Loss of $3,000.  

  • If there are excess losses they can be carried over to following years.
  • In the following year this can be used to offset any capital gains, and still take up to $3,000 Capital loss.
  • This process continues until the capital loss carryover is depleted.
  • Carryover losses cannot be transferred. Not even to a surviving spouse.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies