turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

If i have both short term and long term excess losses, do I have to allocate either loss first in my $3000 deduction against income? Is it Pro Rata? Does it matter?

My 2016 taxes had a short term capital loss of less than $3000 and a long term capital loss of more than $3000.  Can I allocate the $3000 which went against income to the long term portion of my losses and carry over the short term portion?

Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply

If i have both short term and long term excess losses, do I have to allocate either loss first in my $3000 deduction against income? Is it Pro Rata? Does it matter?

Short term is used first.  Here is the worksheet:

https://www.irs.gov/pub/irs-prior/i1040sd--2017.pdf#page=11


message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies