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2012
Level 3

Capital Loss Used in 2023

Hello Turbo Tax (TT) Experts:

 

TT says I have capital loss carryforward from 2022: -$4,182. 

Net capital gain in 2023: $1,617  

And, under Capital Loss Carryover Summary, TT says capital loss to be used in 2023 is $0?  

Why doesn't TT allow me to use $1,617 from carryforward to offset capital gain this year for the same amount? 

 

Thank you in advance!

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1 Reply

Capital Loss Used in 2023

it would seem that in 2023 you realized net capital gains (before any carryover applied) of 5799 this is reduced by the 2022 clco of 4182 resulting in a taxable capital gain for 2023 of 1617

 

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