Your Question:
"How long can I carry forward my losses?"
Capital Loss Carryover: How Many Years Can You Use It?
Rules for carrying forward unused capital losses.
⚡Quick Answer
- •User has excess losses from prior year
- •Category: tax | Level: intermediate
- •Applies to: US
Understanding the Problem
User has excess losses from prior year
The Solution
Tax compliance matters. Getting this wrong can result in penalties.
When in doubt, consult a qualified tax professional.
Step-by-Step:
- Understand the relevant rules
- Check if the rule applies to your situation
- Take corrective action if needed
- Consult a tax professional if uncertain
Example Scenario
Situation: You purchased 100 shares at $100 on January 15, 2024, and sold them at $130 on November 15, 2024.
Analysis: Holding period = 10 months (less than 12 months = short-term)
Result: Gain of $3,000 taxed as ordinary income at your marginal rate.
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