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Small capital loss in 2023 (-85) sold stock in 2023 how do you know if it gets carried over to 2024?

Small capital loss in 2023 (-85) sold stock in 2023 how do you know if it gets carried over to 2024?

 

Does such a small amount even really matter to report?

 

I traced it to Primerica stock reported on a 1099-B in 2023, now sold off...

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Accepted Solutions
JohnB5677
Expert Alumni

Small capital loss in 2023 (-85) sold stock in 2023 how do you know if it gets carried over to 2024?

If you included it on your 2023  tax return it has been used in full.

There will not be a carryover loss until:

  • All losses have been offset by gains
  • And then the loss must exceed $3000
  • The deduction of $3000 is taken in the current year
  • The balance of the loss will be carried forward.
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1 Reply
JohnB5677
Expert Alumni

Small capital loss in 2023 (-85) sold stock in 2023 how do you know if it gets carried over to 2024?

If you included it on your 2023  tax return it has been used in full.

There will not be a carryover loss until:

  • All losses have been offset by gains
  • And then the loss must exceed $3000
  • The deduction of $3000 is taken in the current year
  • The balance of the loss will be carried forward.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

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