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capital loss carryover when changing filing status

Last year we filed jointly.  This year separately.  We had a capital loss carryover.  Can I apply it however I want between our two returns?    Obviously, I would like to apply it to the person who had the capital gain.  

 

To put some example numbers to it, say our carryover loss is -10.  Person A has a gain of 20, person B a gain of 2.  I would like to apply the entire loss carryover to person A.  Possible?

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2 Replies
GCIR
New Member

capital loss carryover when changing filing status

Hi

 

The loss follows the person who incurred it.  Also, the limit to offset other income drops to 1500 for married filing separately   Check out IRS Pub 550

 

 

MinhT1
Expert Alumni

capital loss carryover when changing filing status

No, you cannot choose.

 

When you file jointly, you can deduct up to $3,000 of capital loss carried over. If you file Married filing Separately, each spouse can only deduct up to $1,500 of capital loss carried over.

 

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