topic Capital loss carryover and documentation from prior years in Investors & landlords

Capital loss carryover and documentation from prior years

shakenbacon — Sat, 15 Feb 2025 17:11:35 GMT

I filed capital loss carryover in 2023, totaling 19K. Thus, I was able to deduct 3K of this towards my adjustments that year. For 2024, I will again deduct 3K, and keep doing so until the 19K is used up. My question is, do I have to again submit the proof and documentation of the original 19K from 2023 in each subsequent year tax return? (as in, the original 2023 tax forms from the long term investment losses). Or is simply writing the total capital loss from 2023 onto the 2024 schedule D sufficient for each year thereafter to claim the deduction? I assume the IRS has copies of my 2023 return to refer to my claim of the 19K capital loss.

Re: Capital loss carryover and documentation from prior years

DianeW777 — Sat, 15 Feb 2025 17:15:29 GMT

Yes, you are correct. The IRS has all the documentation from 2023. No, you are not required to submit documentation after the year of the capital loss carryover.

Double check your capital loss carryover after you enter it using the steps below.

It sounds like you already know the steps to include the loss in your return however you can use the link below for additional questions.

How do I enter my capital loss carryover?
- This will come from your carryover worksheet in the 2023 tax return (see the worksheet with Schedule D).

Re: Capital loss carryover and documentation from prior years

shakenbacon — Sat, 15 Feb 2025 17:31:49 GMT

Oh my goodness thank so you much! This was causing me so much stress.