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ap268
New Member

Shifting Carry over capital losses to parent for joint account

My son and me have joint account and realized loss in 2022.  I showed loss only on my son's tax filing in 2022 with Carry over item.  How can I show that carry over loss to my taxes as being joint of the account in 2023 taxes

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1 Reply
RobertB4444
Expert Alumni

Shifting Carry over capital losses to parent for joint account

In a joint account the tax form is usually issued to the primary taxpayer listed on the account.  In this case it sounds like that was your son.  So the tax form that generated the capital loss has his name on it then you can't move that loss between tax returns.

 

You can enter the tax form generating the loss onto the parents tax return as a nominee for their son.  Then the loss would be generated on the parent's return.

 

@ap268 

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