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posted Apr 12, 2025 9:14:29 AM

Apply net capital loss from deceased person in year of death against other income

The date of death was inputted and a net capital loss appears on line 12700 of the deceased person's tax return as a negative however the amount does not carry forward to line 16.  Therefore it is not included in the Total Income. Any idea on how to have the net capital loss applied to other income?

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Expert Alumni
Apr 12, 2025 9:24:45 AM

No. The maximum $3,000 ($1,500 for married filing separately) capital loss is allowed each year, including the year of death of a decedent. Any amount unused will be lost and cannot be carried to the estate or beneficiaries.

  • IRS Decedent Tax Guide
  • How is a decedent's capital loss or capital loss carryover deducted? A capital loss sustained by a decedent during his or her last tax year (or carried over to that year from an earlier year) can be deducted only on the final income tax return filed for the decedent. The capital loss limits still apply in this situation. The decedent's estate cannot deduct any of the loss or carry it over to following years. For more information on capital loss limits, see Publication 17 and Publication 559.