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June 1, 2019
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Can i carry gifted land held 20 years directly to my schedule D and use my carry over long term loss and pay capital gains tax on the balance?

  • June 1, 2019
  • 4 replies
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Best answer by Critter

Technically it goes to the form 8949 and then to the Sch D but yes you can.

4 replies

Employee
June 1, 2019
Did you sell the gifted land?
tedcoxAuthor
June 1, 2019
yes, in 2018
Critter
CritterAnswer
Employee
June 1, 2019

Technically it goes to the form 8949 and then to the Sch D but yes you can.

Employee
June 1, 2019

Yes, your capital loss carry forward will offset your capital gains from the sale of the land.