topic Long term capital loss carryover - Can I opt not to take 3000 loss each year? in Get your taxes done using TurboTax

Long term capital loss carryover - Can I opt not to take 3000 loss each year?

burgerguy14 — Tue, 24 Feb 2026 07:27:44 GMT

I have a long term capital loss carryover. I am currently retired and I am landlord. Between my itemized deductions (mortgage) and my rental loss (depreciation) I do not need the $3000 loss each year to offset any income. It becomes a useless loss for me. Is there a way to opt out of taking the $3000 loss? TurboTax just fills it in.

Re: Long term capital loss carryover - Can I opt not to take 3000 loss each year?

dmertz — Wed, 06 Sep 2023 11:49:24 GMT

The $3,000 loss must be included on Form 1040 line 7, but whatever portion of that $3,000 doesn't reduce your taxable income gets added back to your carryover to next year on the Capital Loss Carryover Worksheet. If without including the $3,000 loss on line 7 your taxable income on Form 1040 line 15 is above zero, your carryover is still reduced by the amount of the loss that should have been used.