Jun 05, 2019 · Tax Return 1040: capital loss carryover Capital loss is not part of itemized deductions. It is a subtraction from taxable income (a true loss), not a deduction. The remaining $17,000 will carry over to the next year. Next year, if you have $5,000 of capital gain, you can use $5,000 of your remaining loss carryover to offset this gain, $3,000 to deduct against ordinary income, and the remaining $9,000 will then carry forward to the next tax year.

The Schedule D form is what most people use to report capital gains and losses that result from the sale or trade of certain property during the year. Guide to Schedule D: Capital Gains and Losses - TurboTax Tax Tips & Videos Use this worksheet to figure your capital loss carryovers from 2016 to 2017 if your 2016 Schedule D, line 21, is a loss and (a) that loss is a smaller loss than the loss on your 2016 Schedule D, line 16, or (b) the amount on your 2016 Form 1040, line 41 (or your 2016 Form 1040NR, line 39, if applicable) is less than zero. Look at Schedule D lines 15 and 16 of your 2018 tax return. If Schedule D lines 15 and 16 are losses, then you might have a capital loss carryover to 2019. Use the Capital Loss Carryover Worksheet in the 2019 Schedule D instructions to calculate the amount of the carryover, and whether it is short-term or long-term.

2014 Capital Loss Carryover Worksheet - Form 1040 Schedule D Instructions - Page D-11 2013 Capital Loss Carryover Worksheet - Form 1040 Schedule D Instructions - Page D-10 2012 Capital Loss Carryover Worksheet - Form 1040 Schedule D Instructions - Page D-9

Use this worksheet to figure your capital loss carryovers from 2017 to 2018 if your 2017 Schedule D, line 21, is a loss and (a) that loss is a smaller loss than the loss on your 2017 Schedule D, line 16, or (b) the amount on your 2017 Form 1040, line 41 (or your 2017 Form 1040NR, line 39, if applicable) is less than zero. Look at Schedule D lines 15 and 16 of your 2018 tax return. If Schedule D lines 15 and 16 are losses, then you might have a capital loss carryover to 2019. Use the Capital Loss Carryover Worksheet in the 2019 Schedule D instructions to calculate the amount of the carryover, and whether it is short-term or long-term.