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C
catbarner
Level 1
March 23, 2025
Question

I noticed that the capital loss carryforward is not restricting to 3K but instead allowing the full loss to be deducted? What is best way to fix?

  • March 23, 2025
  • 2 replies
  • 8 views
Calculation is allowing full loss carryforward of $36,105 from 2023 instead of restricting to just the 3K. Am I missing something?
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    2 replies

    T
    TaxGuyBill
    Level 15
    March 23, 2025

    Is it offsetting current-year capital gains? 

    If can offset gains, plus $3000.

      Accountant-Man
      Accountant-Man
      Level 13
      March 23, 2025

      Annual loss usage is allowed to reduce gains to zero and then $3,000 loss per year. All the rest is carried over.

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