It depends. If you sold any investments and there was an overall loss, then you are limited to a maximum loss of $3,000 that can be used to reduce all other types of income on your tax return. Any loss unable to be used is carried over.
If you did not sell any investments, then you may need to provide additional information for us to help you.
Thanks. I didn't sell any investments.
I cashed a US Savings bond, but that is 1099-INT.
I haven't been part of a business since 2009, so if the carryover goes that far back shouldn't there be a worksheet explaining that? I would like to review the worksheets and forms before filing but only see the option to delete them. I don't want to delete something I can't even see.
Business losses can be carried forward for up to 20 years, So a 2009 business is still in the game.
Excess business losses that are disallowed for the current year are treated as a net operating loss carryover to the following taxable year. See Form 461 and instructions for details.
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