You'll need to sign in or create an account to connect with an expert.
Yes it is required ... there is no option to not take the allowed deduction.
If you do not take it then you forfeit any remaining carry forward for future years. You cannot skip a year.
you have a big loss but $3,000 is the max you are allowed per year. the rest will carryover to coming years.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
otne195600
New Member
jetlife2
Level 2
thiru1983
New Member
KausBose
New Member
NelehCr0z
Returning Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.