Long-term capital loss carry forward question
Sign Up

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
Announcements
TurboTax has you covered during Covid. Get the latest second stimulus info here.
cancel
Showing results for 
Search instead for 
Did you mean: 
New Member

Long-term capital loss carry forward question

Hello, I have a $25,000 long term capital loss carry forward from a previous year that I have been carrying forward and I have a $25,000 long-term capital gain from this year, can I offset the entire long-term capital gain of $25,000 this year with the long term capital loss carry forward of $25,000 from a couple of years ago or am I limited to only using $3,000 per year of the long-term capital loss carry forward? Thank you...

3 Replies
New Member

Long-term capital loss carry forward question

Basic return......Have $3000 carry over every year till I die owing to half million loss in 2008.......where do I include that credit on tax form......it brings my tax bill down.      This is big problem with your software.

Level 10

Long-term capital loss carry forward question

@yakki5555   Yes, your carryover losses can fully offset and current year gains.

New Member

Long-term capital loss carry forward question

Thank you very much, I appreciate your quick reply. That' s good news. 

Dynamic Ads
v
Privacy Settings