https://ttlc.intuit.com/community/taxes/discussion/i-have-a-tax-loss-carrover-from-2022-of-25-000-in-2023-i-have-a-long-term-gain-of-15-000-and-a-short/01/3074060#M1122000 Tue, 24 Feb 2026 06:41:23 GMT ernestgere 2026-02-24T06:41:23Z https://ttlc.intuit.com/community/taxes/discussion/i-have-a-tax-loss-carrover-from-2022-of-25-000-in-2023-i-have-a-long-term-gain-of-15-000-and-a-short/01/3074060#M1122000 Tue, 24 Feb 2026 06:41:23 GMT https://ttlc.intuit.com/community/taxes/discussion/i-have-a-tax-loss-carrover-from-2022-of-25-000-in-2023-i-have-a-long-term-gain-of-15-000-and-a-short/01/3074060#M1122000 ernestgere 2026-02-24T06:41:23Z https://ttlc.intuit.com/community/taxes/discussion/re-i-have-a-tax-loss-carrover-from-2022-of-25-000-in-2023-i-have-a-long-term-gain-of-15-000-and-a/01/3074062#M1122001 <UL><LI>It will all be offset, leaving $2000 for csrryforward to 2024&nbsp;</LI></UL> Tue, 27 Jun 2023 21:55:47 GMT https://ttlc.intuit.com/community/taxes/discussion/re-i-have-a-tax-loss-carrover-from-2022-of-25-000-in-2023-i-have-a-long-term-gain-of-15-000-and-a/01/3074062#M1122001 NCperson 2023-06-27T21:55:47Z https://ttlc.intuit.com/community/taxes/discussion/re-i-have-a-tax-loss-carrover-from-2022-of-25-000-in-2023-i-have-a-long-term-gain-of-15-000-and-a/01/3074063#M1122002 <P>Thanks for reaching out.&nbsp;</P> <P>&nbsp;</P> <P>How that loss carryover applies depends on the type of loss carryover.&nbsp; If this is a loss from a business, then those losses will not offset any of your capital gains directly but will help reduce your overall taxes in 2024.&nbsp;</P> <P>&nbsp;</P> <P>Assuming the 25,000 is a capital loss carryover, it will also be subdivided into short-term capital losses and long-term capital losses.&nbsp; Those losses will then apply to the respective capital gains&nbsp;(short-term to short-term and long-term to long-term).&nbsp; That loss will offset those gains fully&nbsp;(23K) leaving 2K to offset the other non-capital gain income on your return.</P> <P>&nbsp;</P> <P>If you're not sure what characterization of that 25,000 is, you may download a copy of your 2022 return (including worksheets).&nbsp; The Turbo Tax worksheet aptly named "Carryover Worksheet" will detail the characterization of the loss carryover.</P> <P>&nbsp;</P> <P>Thanks for asking.&nbsp; If you need more information please feel free to reply to this thread.</P> Wed, 28 Jun 2023 12:01:59 GMT https://ttlc.intuit.com/community/taxes/discussion/re-i-have-a-tax-loss-carrover-from-2022-of-25-000-in-2023-i-have-a-long-term-gain-of-15-000-and-a/01/3074063#M1122002 AmyATX 2023-06-28T12:01:59Z https://ttlc.intuit.com/community/taxes/discussion/re-i-have-a-tax-loss-carrover-from-2022-of-25-000-in-2023-i-have-a-long-term-gain-of-15-000-and-a/01/3074070#M1122003 <P>Do a simulated tax return to find out.&nbsp; Assuming that the $25,000 loss carried over from 2022 is some combination of short- and long-term capital losses, I think you'll find that all $23,000 of the 2023 capital gains will be offset, the remaining $2,000 of carryover will appear on Form 1040 line 7 (negative 2,000)&nbsp; to offset $2,000 of ordinary income and, assuming that you have at least $2,000 of ordinary income to offset, nothing carrying forward to 2024.</P> Tue, 27 Jun 2023 22:29:15 GMT https://ttlc.intuit.com/community/taxes/discussion/re-i-have-a-tax-loss-carrover-from-2022-of-25-000-in-2023-i-have-a-long-term-gain-of-15-000-and-a/01/3074070#M1122003 dmertz 2023-06-27T22:29:15Z