Capital loss for the current year and not carrying over
I have - $3439 of realized loss in 2024. I know that the limit of capital loss per year is $3000. I want to fill it out for the year 2024 but the only option I found is "capital loss carryovers from 2023 to 2024",
I don't want to carry it over. I don't understand. I want to report that I lost $3000 this year and would not mind carrying over the $439 for the tax year 2025. But where would I report that *for this year 2024?
Answers
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I don't understand your question. What do you mean by "I want to fill it out for the year 2024"?
If you have no carryover from 2023, and $3439 is your total capital loss in 2024, you deduct $3000 this year and carry over the remainder ($439) to 2025.
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You don't specify the amount to carry over. The tax software will automatically apply the for 2024 and the remainder becomes carryover for future tax years.
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I think I understand their question because I'm having the same issue.Actually nevermind, it did calculate automatically.
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