I have $21,000 of capital losses carryover but last year I made $14,000.

[b-wongg93]

I have $21,000 of capital losses carryover but last year I made $14,000 in short-term capital gains. Would I still be eligible to claim $3,000 in capital loss since I would still have $7,000 leftover in carryover?

[VolvoGirl · Accepted solution]

Yes.  Then you will have $4,000 loss to carryover to 2018.

[guercini]

After carrying over the $4000 can the remaining $1000 be carried over yet another year?

[VolvoGirl]

Yes you carry it over until it’s used up.  You can’t skip a year.  You get to first offset the loss against any gains you have each year so that can use more of it up.  Then after applying the loss to the current gains you can take a max loss of 3,000 per year.