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Q
QuRuCo
April 18, 2023
Question

My capital loss carryover was automatically calculated. Should I remove it?

  • April 18, 2023
  • 2 replies
  • 0 views
No text available

2 replies

E
ee-ea
Employee
April 18, 2023

No. Do not remove it.

Q
QuRuCoAuthor
April 18, 2023

What is used to calculate those numbers?

JohnB5677
JohnB5677
April 18, 2023

@QuRuCo   Taxpayers are limited to a maximum capital Loss of $3,000.  

  • If there are excess losses they can be carried over to following years.
  • In the following year this can be used to offset any capital gains, and still take up to $3,000 Capital loss.
  • This process continues until the capital loss carryover is depleted.
  • Carryover losses cannot be transferred. Not even to a surviving spouse.
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