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New Member
posted Apr 2, 2023 9:01:42 AM

Capital Loss and don't need to file this year

My mother does not need to file taxes this year.  2022 tax year.  She has a capital loss that will be carried forward.

 

Does she need to file taxes to preserve this future capital loss in the future?

 

Thank you,

 

Jerry

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1 Replies
Expert Alumni
Apr 2, 2023 10:08:19 AM

Filing taxes would be best because it will preserve the record of your mother’s capital loss carryforward.

If your mother does not have any income after the standard deduction, the entire capital loss carryforward will be preserved, even though a $3,000 deduction will be shown on the tax return.

 

Check the Capital Loss Carryforward Worksheet.

 

See Capital Loss with Little or No Income.