2007-12-18 09:01:43 · 3 answers · asked by Mary D 1 in Business & Finance ➔ Taxes ➔ United States
You can carry the capital loss forward until you either use it up or you die.
Let's say you lose $10K in 2007. If you have no other gains, you can claim $3000 against other income and carry the other $7000 to 2008. If you have $10,000 in gains in 2008, you will use it all up and have only $2000 of gains to tax. (If you have no other income, the full amount will carry forward.)
2007-12-18 09:14:40 · answer #1 · answered by Anonymous · 0⤊ 0⤋
As much as you have..but you can only deduct $3000 against ordinary income.
Example, lets say you lost (net of gains) $5000. You can deduct $3000 this year, and have a carry forward loss of $2000 next year. You can use it to offset future gains or again towards ordinary income.
2007-12-18 09:06:43 · answer #2 · answered by edco 5 · 1⤊ 0⤋
As many as you want but the total losses can not exceed total gains by more than $3000. Any excess losses are carried over for use in future years.
2007-12-18 09:05:36 · answer #3 · answered by Wayne Z 7 · 0⤊ 0⤋