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April 12, 2025
Question

Capital Loss Carryover

  • April 12, 2025
  • 1 reply
  • 0 views

I had a capital loss entered on line 7 of my 1040, that amount was used for line 9 Total Income.

This same capital loss I was able to use on my Capital Loss Carryover Worksheet because I had a negative number for my Taxable income line 15.  I read the IRS instructions and it does say this.  This seems like I'm using that same amount twice.  Is this allowed?

    1 reply

    April 13, 2025

    Have you viewed your carryover worksheet?  This should provide you with how the carryover is applied.  

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