Can I carry over an investment loss from previous years if I never claimed it as a deduction that year?

Question

In previous years I never made enough money to pay taxes so I never claimed or reported the loss on my taxes, can i do so now?

Answer 1

If you have a carryover loss and don't have cap gains income the next year to deduct it from, you still have to reduce the carryover by $3000 each year - if there's anything left, then yes you can claim it in future years.

Answer 2

Yes you can. You are allowed to carry-over investment losses for up to 3 yrs or until it is completely written off. Investment losses can only be written off against investment gains. Consult a tax adviser or the IRS.