Capital Gains and Losses - Capital Loss Limit and Carryforward to Next Year

You may deduct capital losses up to the amount of your capital gains, plus $3,000 ($1,500 if married filing separately). If part of the loss is still unused, you can carry it over to later years until it is completely used up.

Any capital loss carryover to the next tax year will automatically be calculated in TaxAct®. To access the Capital Loss Carryforward Worksheet in your current year's return to see the amount which will be carried over to the next year:

  1. From within your TaxAct Online return, click Print Center in the left column.
  2. Click Custom Print
  3. Click the checkbox(es) to the left of what you wish to print (the top section contains individual forms or schedules and the bottom section contains documents or worksheets). You may need to scroll down in the section to locate the item. 
  4. Click Print and then click the PDF link. Click the printer icon or the save icon (available when you hover your mouse over the bottom of the PDF form) to print or save the PDF copy.

Note. If you see a message indicating you have not paid your return fees, click the View/Pay link, which will direct you through the Paper Filing steps. Continue through the screens until you have processed the payment for your product fees and then repeat the steps to print. 

  1. Start your TaxAct Desktop program
  2. Click the Forms button in the top left corner
  3. Expand the Federal folder and then expand the Worksheets folder
  4. Scroll down and click '+' next to the worksheet Schedule D Capital Loss - Carryforward to Next Year
  5. Double click the copy you wish to print
  6. Click the Printer icon in the toolbar 

In the print dialog box that appears you are able to choose if you wish to send the output to a printer or a PDF document. 

Note. If you import your current year's information into the following year's return, this information will automatically be entered for you on the Schedule D.

Additional Information

Per IRS Publication 550 Investment Income and Expenses, page 66:

Capital loss carryover. If you have a total net loss on line 16 of Schedule D (Form 1040 or 1040-SR) that is more than the yearly limit on capital loss deductions, you can carry over the unused part to the next year and treat it as if you had incurred it in that next year. If part of the loss is still unused, you can carry it over to later years until it is completely used up.

When you figure the amount of any capital loss carryover to the next year, you must take the current year's allowable deduction into account, whether or not you claimed it and whether or not you filed a return for the current year.

When you carry over a loss, it remains long term or short term. A long-term capital loss you carry over to the next tax year will reduce that year's long-term capital gains before it reduces that year's short-term capital gains.