https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/loss-carry-forward-my-wife-and-i-divorced-last-year-and-i-need-to-know-how-to-divide-the-loss-carry/01/66052#M2367 Loss Carry Forward<BR />My wife and I divorced last year and I need to know how to divide the loss carry forward when I file our returns.<BR />Assume I have a short-term loss of $20,000 and she had a short-term loss of $10,000 for a total loss of $30,000. The loss carryforward on our joint return last year was $10,000. Do I claim two thirds of that lost and she claims one third? Sat, 01 Jun 2019 02:03:34 GMT jfrancko16 2019-06-01T02:03:34Z https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/loss-carry-forward-my-wife-and-i-divorced-last-year-and-i-need-to-know-how-to-divide-the-loss-carry/01/66052#M2367 Loss Carry Forward<BR />My wife and I divorced last year and I need to know how to divide the loss carry forward when I file our returns.<BR />Assume I have a short-term loss of $20,000 and she had a short-term loss of $10,000 for a total loss of $30,000. The loss carryforward on our joint return last year was $10,000. Do I claim two thirds of that lost and she claims one third? Sat, 01 Jun 2019 02:03:34 GMT https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/loss-carry-forward-my-wife-and-i-divorced-last-year-and-i-need-to-know-how-to-divide-the-loss-carry/01/66052#M2367 jfrancko16 2019-06-01T02:03:34Z https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/yes-if-you-and-your-spouse-once-filed-a-joint-return-and/01/66062#M2368 <P></P><P> </P><P>Yes, if you and your spouse once filed a joint return and are now filing separate returns, any capital loss carryover from the joint return can be deducted only on the return of the spouse who actually had the loss so you will want to divide the loss.</P> <P>See <A href="https://www.irs.gov/publications/p544/ch04.html#en_US_2015_publink100072653" rel="nofollow" target="_blank">https://www.irs.gov/publications/p544/ch04.html#en_US_2015_publink100072653</A> </P> <P></P><BR /><BR /> Sat, 01 Jun 2019 02:03:36 GMT https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/yes-if-you-and-your-spouse-once-filed-a-joint-return-and/01/66062#M2368 MaryK1 2019-06-01T02:03:36Z https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/yes-according-to-treasury-regulation-1-1212-1-c-each-sp/01/66072#M2369 <P>Yes, according to Treasury Regulation 1.1212-1(c) each spouse may use his and/or her share of the remaining loss carry-over. In your example, your math is correct as long as the investments were held as separate accounts, not in a joint brokerage account, and as long as it was not mandated to be handled any differently in your divorce decree. <BR /></P> Sat, 01 Jun 2019 02:03:38 GMT https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/yes-according-to-treasury-regulation-1-1212-1-c-each-sp/01/66072#M2369 KrisD 2019-06-01T02:03:38Z https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/re-yes-if-you-and-your-spouse-once-filed-a-joint-return-and/01/1951719#M63119 <P>How about in community property states like New York?</P> Fri, 19 Feb 2021 03:21:25 GMT https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/re-yes-if-you-and-your-spouse-once-filed-a-joint-return-and/01/1951719#M63119 Awesener 2021-02-19T03:21:25Z https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/re-yes-if-you-and-your-spouse-once-filed-a-joint-return-and/01/1954301#M63200 <P><a href="https://ttlc.intuit.com/community/user/viewprofilepage/user-id/3392312">@Awesener</a> In a community property state, you would split the Capital Loss 50/50, if both names were on the account.</P> <P>&nbsp;</P> <P>Click this link for more info&nbsp;<A href="https://ttlc.intuit.com/community/taxes/discussion/how-to-file-after-divorce/00/11401" target="_blank">Filing Separately in a Community Property State</A>.&nbsp;</P> <P>&nbsp;</P> <P>&nbsp;</P> Fri, 19 Feb 2021 18:46:47 GMT https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/re-yes-if-you-and-your-spouse-once-filed-a-joint-return-and/01/1954301#M63200 MarilynG1 2021-02-19T18:46:47Z