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jabspd1
New Member

On the carryover report there are nonrecaptured sec 1231 losses. if there are no sec 1231 gains to offset them in the next 5 years, what happens to those losses? thx

 
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Critter
Level 15

On the carryover report there are nonrecaptured sec 1231 losses. if there are no sec 1231 gains to offset them in the next 5 years, what happens to those losses? thx

They are not really "losses" so to speak but they do come into play in how a 1231 gain is computed and since the look back period is only 5 years any losses not used are no longer considered.

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Critter
Level 15

On the carryover report there are nonrecaptured sec 1231 losses. if there are no sec 1231 gains to offset them in the next 5 years, what happens to those losses? thx

They are not really "losses" so to speak but they do come into play in how a 1231 gain is computed and since the look back period is only 5 years any losses not used are no longer considered.

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