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Employee
June 5, 2019
Solved

Can I take less than the maximum $3k capital loss carryover, and save it for next year.

  • June 5, 2019
  • 1 reply
  • 0 views

for example kid has $10k cap loss from last year. her income this year is $3k. TT is using $3k of carry over to reduce her income to 0 but the first $2k is tax free so only want to use $1k of cap loss and carry the remaining $9k over to next year rather than only $7k is that possible?

Best answer by Coleen3

No. The IRS requires that you include the entire amount on your return that you are entitled to. 
For a more thorough explanation of how this will work, see the link below.

https://ttlc.intuit.com/replies/4203301

1 reply

Coleen3Answer
Employee
June 5, 2019

No. The IRS requires that you include the entire amount on your return that you are entitled to. 
For a more thorough explanation of how this will work, see the link below.

https://ttlc.intuit.com/replies/4203301