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No. Your capital loss carryover does not have any impact on taking the standard deduction.
However, your standard deduction might (unliikely) have an impact on your capital loss carry over. Basically you are allowed to use you standard or itemized deductions to reduce your taxable income before having to use any of your capital loss.
Another way to say it is: If your standard (or itemized) deduction is greater than AGI, without capital loss, then all your capital loss is carried forward.
Wow, thanks so much! I was searching for 30 minutes for and answer until I found yours!
Basically (if I understand properly), if you have a capital loss carryover from last year but an income this year lower than the standard deduction then you don't use the carryover for that year and it just carries over untouched into the next year!
This makes sense because the standard deduction already deducted your income and there is no more to deduct... whew. I get it.
Yes. Technically, if your standard (or itemized) deduction is greater than your AGI, without the capital loss, then all your capital loss is carried forward.
The best thing to do is prepare a tax return (even if you aren't required to file) to accurately calculate the carry over to the next year.
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