https://ttlc.intuit.com/community/taxes/discussion/in-2020-i-have-a-12-000-long-term-capital-loss-with-no-capital-gains-to-offset-it-am-i-required-to/01/1730057#M614128 Thu, 08 Oct 2020 19:55:55 GMT scottretired 2020-10-08T19:55:55Z https://ttlc.intuit.com/community/taxes/discussion/in-2020-i-have-a-12-000-long-term-capital-loss-with-no-capital-gains-to-offset-it-am-i-required-to/01/1730057#M614128 Thu, 08 Oct 2020 19:55:55 GMT https://ttlc.intuit.com/community/taxes/discussion/in-2020-i-have-a-12-000-long-term-capital-loss-with-no-capital-gains-to-offset-it-am-i-required-to/01/1730057#M614128 scottretired 2020-10-08T19:55:55Z https://ttlc.intuit.com/community/taxes/discussion/re-in-2020-i-have-a-12-000-long-term-capital-loss-with-no-capital-gains-to-offset-it-am-i-required/01/1730060#M614129 <P>Yes it is required ... there is no option to not take the allowed deduction.&nbsp;</P> Thu, 08 Oct 2020 19:59:18 GMT https://ttlc.intuit.com/community/taxes/discussion/re-in-2020-i-have-a-12-000-long-term-capital-loss-with-no-capital-gains-to-offset-it-am-i-required/01/1730060#M614129 Critter-3 2020-10-08T19:59:18Z https://ttlc.intuit.com/community/taxes/discussion/re-in-2020-i-have-a-12-000-long-term-capital-loss-with-no-capital-gains-to-offset-it-am-i-required/01/1730061#M614130 <P>If you do not take it then you forfeit any remaining carry forward for future years.&nbsp;&nbsp;&nbsp; You cannot skip a year.</P> Thu, 08 Oct 2020 20:02:51 GMT https://ttlc.intuit.com/community/taxes/discussion/re-in-2020-i-have-a-12-000-long-term-capital-loss-with-no-capital-gains-to-offset-it-am-i-required/01/1730061#M614130 macuser_22 2020-10-08T20:02:51Z https://ttlc.intuit.com/community/taxes/discussion/re-in-2020-i-have-a-12-000-long-term-capital-loss-with-no-capital-gains-to-offset-it-am-i-required/01/1730098#M614146 <P>you have a big loss but $3,000 is the max you are allowed per year. the rest will carryover to coming years.</P> Thu, 08 Oct 2020 21:01:40 GMT https://ttlc.intuit.com/community/taxes/discussion/re-in-2020-i-have-a-12-000-long-term-capital-loss-with-no-capital-gains-to-offset-it-am-i-required/01/1730098#M614146 fanfare 2020-10-08T21:01:40Z