Can I Delay Taking a Capital Loss?

I sold an investment in 2019 resulting in a capital loss of around $2,400.

Do IRS rules allow me to defer taking the loss until the 2020 tax year? Or must the loss be deducted in the year in which it was made?

Many thanks.

posted

No, you cannot delay the deduction of a capital loss to a future year. It has to be deducted up to a maximum of $3,000 ($1,500 if married filing separately) in the year the loss is realized.

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is capital gains included in the taxable income limit of $96700 per married couple? Do we get to take off our standard deduction? IE How do they count our income regarding this taxed limit? Which line of the 1040 is the determining amount ?

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Can I Delay Taking a Capital Loss?