Capital Gains and Losses

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I'm in PA. 32, no dependents. Single. Yes. I am trying to
I am trying to understand why my capital loss carryover is different for my regular tax vs AMT tax. I have a carryover loss balance that I was able to claim with my regular taxable income in 2018, but then in 2019, it appears that the negative balance carryover is only on my AMT form, and my regular tax is only accounting for my net gains from that year. IN 2019, my AGI was less than my AMT, so, is that how it should work? Now, as I'm filing for 2020 tax returns (my AGI is greater this year), the negative balance is not carrying over, since it was part of the 2019 AMT. I'm using Turbotax, and not sure if it's ok to just put my carry over loss balance in the regular tax form, instead of AMT form, which doesn't seem to be allowing me to take the $3000 deduction.… read more
Arthur Rubin
Arthur Rubin
Tax Preparer
Doctoral Degree
86 satisfied customers
I had a very small amount of capital loss last year, which
I had a very small amount of capital loss last year, which was deducted from my income last year. All my income was dividend income, again a small amount. Now I see that the tax software carries that … read more
levr-tax-gain
levr-tax-gain
Tax Advisor
Bachelor's Degree Equivalent
57,011 satisfied customers
In 2018, i had computed a capital gain loss of approximately
in 2018, i had computed a capital gain loss of approximately 33,000 dollars. i have since used a capital loss carryover of 3,000 a year. Now this year i have a capital gain of 14,400 per year. What do… read more
levr-tax-gain
levr-tax-gain
Tax Advisor
Bachelor's Degree Equivalent
57,011 satisfied customers
My sister had capital loss in 2017 tax year but she did not
Hello my sister had capital loss in 2017 tax year but she did not recognize this on her tax return. Is it too late to report this for 2019 tax year and realize the maximum $3,000 capital loss deductio… read more
Alexander Efros
Alexander Efros
Financial Planner/Tax Specialist
Masters of Business Administration (MBA)
1,341 satisfied customers
Where is Carry Over Loss from prior year located (ie on
Where is Carry Over Loss from prior year located (ie on personal Tax filing for 2017)? Is there a single line or an entry for each separate Entity or investment?… read more
Anne
Anne
Master Tax Preparer
2,601 satisfied customers
I am using turbo tax. In 2015 tax year I had a stock loss. I
I am using turbo tax. In 2015 tax year I had a stock loss. I used the 3000 deduction but did not carry over the balance to the 2016 tax year. I had a loss that year and took the deduction of 3000 doll… read more
Carter McBride
Carter McBride
LLM
8,142 satisfied customers
Tax return amendment: I need help understanding how to carry
Tax return amendment: I need help understanding how to carry back/carry forward additional losses / NOL from a Ponzi scheme theft loss reported in 2016. … read more
PDtax
PDtax
Owner
Master's Degree
6,528 satisfied customers
The stock i might sell can have more negative than my total
the stock i might sell can have more negative than my total earned income this year and i might end up in a negative. what does it mean if this happens? do i need to do anything special or i just file… read more
taxmanrog
taxmanrog
Master's Degree
2,202 satisfied customers
I recently sold a property. The sale price was $835k. The
I recently sold a property. The sale price was $835k. The cash payout from fire damage was $447k.The adjusted basis of property is aprox $382k.What would I owe for federal tax and CA? And when should … read more
emc011075
emc011075
Tax advisor and Enrolled Agent
Bachelor's Degree
6,680 satisfied customers
How difficult is it to file an amended tax return for a
How difficult is it to file an amended tax return for a married couple filing jointly with pretty simple details?For several years I have used the online version of the tax prep software of a major co… read more
Robin D.
Robin D.
Vocational, Technical or Trade School
23,909 satisfied customers
I have a question regarding Schedule D. Let's use my 2013
I have a question regarding Schedule D. Let's use my 2013 tax return as an example. Is the amount on line 15 the amount carried forward from the PREVIOUS year or what will be carried forward to the 20… read more
levr-tax-gain
levr-tax-gain
Tax Advisor
Bachelor's Degree Equivalent
57,011 satisfied customers
I am missing a capital gains LOSS this year and see that in
I am missing a capital gains LOSS this year and see that in 2012 I had a carryover of over $12,000 and it did not carryover to 2013 with the 2013 version of turbotax. How do I recover these lost deduc… read more
Mark Taylor
Mark Taylor
Certified Public Accountant
Masters
2,563 satisfied customers
Do I HAVE to use a carryover loss 465(d) from prior year if
Do I HAVE to use a carryover loss 465(d) from prior year if it does not benefit me? Everything I have read says the loss "can be" or "may be" used in a future year. Is there an IRS code that says a ca… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
21,243 satisfied customers
I have a question about capital loss rollover I basically
I have a question about capital loss rollover I basically lost about $40,000 messing around with penny stocks in an 18 month period. My situation is this... TAX YEAR CAPITAL GAIN/LOSS CLAIMED LOSS on … read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
8,779 satisfied customers
If I am filing an amended return capital loss carryover what
If I am filing an amended return for a capital loss carryover what line is it entered on on the 1040x?… read more
USTaxAdvising
USTaxAdvising
Partner
Bachelor's Degree
1,099 satisfied customers
Hi. I miscalculated my capital loss on my 2008 taxes, and didnt
Hi. I miscalculated my capital loss on my 2008 taxes, and didn't claim about $12000 additional capital loss. Since then, I have taken the $3000 loss deduction each year. In 2010, I was contacted the b… read more
PhillipB EA
PhillipB EA
Accountant
Bachelor's Degree
130 satisfied customers
Had a capital loss on sale of stock in 2009 of 14,000, took
Had a capital loss on sale of stock in 2009 of 14,000, took max allowed of $3000. but, forgot to take a $3000. loss carryover in 2010 & 2011. What can I take doe 2012 and beyond and what form do I fil… read more
Tax.appeal.168
Tax.appeal.168
Principal
8,188 satisfied customers
Hello. My father forgot to use his capital loss carry forward
Hello. My father forgot to use his capital loss carry forward of $50,000 for five years (2005-2009). Fortunately he didn't have any gains during those five years which could have been offset by the lo… read more
Arthur Rubin
Arthur Rubin
Tax Preparer
Doctoral Degree
86 satisfied customers
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