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Level 5
posted Mar 12, 2025 7:15:08 AM

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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1 Best answer
Expert Alumni
Mar 12, 2025 7:32:16 AM

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.

1 Replies
Expert Alumni
Mar 12, 2025 7:32:16 AM

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.