What is the limit on net capital losses that can be claimed each year?

Question

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Answer 1

You can use capital losses to offset capital gains in any year. If your capital losses exceed your gains, you can take up to $3,000 in any year with the excess carrying forward until used up or offset against capital gains. The only thing with the $3,000 is that if you are married filing separately you can only deduct $1,500 per year instead of $3,000. Also, if you don't have taxable income and you still have capital losses, you more than likely would not be using up any of the capital loss in that year, but would carryforward all of it.

Answer 2

Capital losses that offset capital gains are unlimited. Losses beyond any gains that are claimed against other inome are limited to $3,000 per year. Any excess can be carried forward to future tax years. The carried over amounts then are used to offset unlimited gains first and the remainder against other income in $3,000 chunks in future years.

Answer 3

$3000.00 per year, per tax return. Any capital loss that cannot be taken due to the limitation can be carried forward until it is used up.