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Capital Loss carryover

I have a Capital Loss carryover of $3000 in my 2023 return. How do I check the remaining capital loss carryover from previous years that would be applied in future years?

 

Thanks,

Amit

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1 Reply
Katie-P
Employee Tax Expert

Capital Loss carryover

Hi Amit,

 

Great question! Any capital loss carryovers will show up in your Capital Loss Carryforward Worksheet on lines 8 and 13 (short-term capital loss carryforwards and long-term capital loss carryforwards, respectively).

 

If you don't see that worksheet in your tax return documents, you should be able to calculate the carryforward manually by looking at Schedule D, lines 16 and 21.

 

Let's say that you had a capital loss carryforward from 2022 of $8k. Then you were allowed to use up $3k of that loss on your 2023 return. The $5k that will carry forward is the difference between lines 16 and line 21 (just treat them as positive numbers, instead of negative). 

 

I hope this helps! I'll stay tuned in case you have any follow-up questions. Thanks for participating in today's event!

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