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camdenpowers123
April 6, 2023
Question

Can I carry over capital losses from 2021 if I didn't file taxes that year? If so, how would I report this?

  • April 6, 2023
  • 1 reply
  • 0 views
I was in college at the time, had no income but was investing on the side. Ended up with a loss for 2021, just hoping to apply that this year if possible.

1 reply

M
MinhT1
April 6, 2023

If you did not file taxes in 2021, you cannot carry over capital losses incurred in 2021 to future years.

 

Even if in 2021 you had no income but only capital losses, you must file a tax return so that these losses can be carried forward.

 

You can still now file a tax return for 2021. There is no penalty if there is no tax due for 2021.

 

Please follow the instructions in this TurboTax Help article to prepare your tax returns for 2021.

 

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