capital loss carryover in child's account question.?

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capital loss carryover in child's account question.?

If the capital loss is less than $3000 and the loss exceeds the income (neg. AGI) can the capital loss be carried over to offset gains in future years?

2007-03-12 10:01:56 · 3 answers · asked by Hal 1 in Business & Finance ➔ Taxes ➔ United States

3 answers

Yes all of it since none was used.

2007-03-12 10:09:22 · answer #1 · answered by spicertax 5 · 0⤊ 0⤋

A capital loss can be carried over, but it must be reduced by $3000 a year even if there isn't any income to offset it against.

2007-03-12 19:18:01 · answer #2 · answered by Judy 7 · 0⤊ 1⤋

Yes, any unusable portion is carried over to the next year.

2007-03-12 18:02:22 · answer #3 · answered by Bostonian In MO 7 · 1⤊ 0⤋