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CGassist.168
CGassist.168, Accountant
Category: Capital Gains and Losses
Satisfied Customers: 3444
Experience:  Tax Accountant
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If I have capital losses carried over from a previous year,

Customer Question

If I have capital losses carried over from a previous year, and the total is more than $3000, can I apply the entire amount to offset gains realized in the current year?
Submitted: 1 year ago.
Category: Capital Gains and Losses
Expert:  CGassist.168 replied 1 year ago.

Yes, the previous year's losses can offset current year gains. If there is a loss amount remaining, it will get carried over to future years until the amount has been exhausted.

Let me know if I can be of further assistance to you regarding this matter.

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