Capital Gains and Losses

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Can I defer losses from stock sales to next year's tax

Can I defer losses...

Can I defer losses from stock sales to next year's tax return?

Accountant's Assistant: I love the idea of making big money with investments, but there are so many things that could go wrong. The Accountant will be able to help you. Please tell me more, so we can help you best.

I don't owe any taxes this year. I just want to know if I can carry the loss to next year.

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3/21/2018
TaxRobin
TaxRobin, Tax Preparer
Category: Capital Gains and Losses
Satisfied Customers: 18,183
Experience: 15+ years in Tax preparartion as well as Instructor for tax law, theory, and application
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Hello, I'm Robin. Welcome to JustAnswer. I'm reviewing your question now and typing up my reply. I'll post that in just a few moments.

Ask Your Own Capital Gains and Losses Question

Yes you can.

If your capital losses exceed your capital gains, the amount of the excess loss that you can claim on line 13 of Form 1040 to lower your income is the lesser of $3,000, ($1,500 if married filing separately) or your total net loss shown on line 16 of the Form 1040, Schedule D.pdf.

If your net capital loss is more than this limit, you can carry the loss forward to later years. You may use the Capital Loss Carryover Worksheet found in Publication 550, Investment Income and Expenses, or in the Form 1040, Schedule D Instructions, to figure the amount you can carry forward.

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TaxRobin
TaxRobin, Tax Preparer
Category: Capital Gains and Losses
Satisfied Customers: 18,183
Experience: 15+ years in Tax preparartion as well as Instructor for tax law, theory, and application
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