Losses carry forward in PA tax returns

[F M]

Are Capital losses allowed to be carried forward for setoff in future years in PA?

[Alicia65]

Unfortuatly they do not.  You cannot carry forward or carryback gains or losses in PA.

PA income tax rules for offsetting losses against gains.

[carolineb]

Pennsylvania does not allow for the carryover of losses from one tax year to another year.  Losses can only be taken in the year that the taxable event occurs, and property must have been purchased for investment purposes (not personal use).  Pennsylvania allow does not allow investment losses to be used against other classes of income, or to offset income between spouses. Here is a link to PA DOR information on this subject that may help you with further questions: 

Net Gains (Losses) from the Sale, Exchange, or Disposition of Property

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