if i have a large capital loss, is there ever a situation i can offest it versus income?

Question

i have a capital loss of 500k, and i'll never be able to recoup it when i claim the 3k per year. what can i do?

Answer 1

If you have any capital gains in future years, you can offset those with your carryover also in addition to the $3K per year that you are allowed to take against ordinary income.

Geez, you did take a bath, didn't you! If you have that kind of money, large capital gains in the future wouldn't be unlikely, so you might get to use a lot of it.

Answer 2

You can claim only $3000 each year, provided your Cap Loss exceeds your Cap gains for that year by $3K or more. Any other excess loss gets carried over to the next year.

So you are probably looking at more than 100 years of carrying forward a loss.

The only way to make up for such a large loss is to try and get Cap Gains, either from the stock market or other stuff. I won't suggest Real Estate at this time, for obvious reasons......

Answer 3

try this; prepare to open a new business and as part of the prep,
create a RESEARCH and DEVEOPMENT div or company.

Also, you can buy a company
that is very profitable and your loss
can offset taxes due.

I am amazed your CPA has not offered this advice to you.