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How long can capital losses be carried forward to write of

 

Customer Question

How long can capital losses be carried forward to write off?

Submitted: 280 days and 2 hours ago.
Category: Capital Gains and Losses
Value: $16
Status: CLOSED

Accepted Answer

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Expert:  jkcpa replied 280 days and 1 hours ago.

Hello,

Thanks for your question.

Capital losses in excess of the $3,000 limit ($1500 for married filing separate) are carried forward to future tax years until the loss is used up by offsetting capital gains and using the $3000 ($1500 for MFS) loss limits each year. There is no limit on how many years you can carryforward the loss.

For reference, see http://www.irs.gov/publications/p550/ch04.html#en_US_2011_publink100010729

Best regards,

Expert TypeCPA
Category: Capital Gains and Losses
Pos. Feedback: 100.0 %
Accepts: 7
Answered: 6/29/2012

Experience: CPA with 18 years of tax experience.

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