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

[leeleses]

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...

[JohnB5677 · Accepted solution]

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.