Capital loss carryover from two years ago?

sammysosahat

My schedule D line 16 was -60000 for 2022 and -5000 for 2023. This should mean I have a full -3000 to carry over for this 2024 (and many years to come), right? But it seems like for 2024 I'm only able to use the -2000 carry over from 2023. Is there something I'm missing?

JMSSGV

You need to look at your Capital Loss Carryover Worksheet from each year to see how your carryover was applied. You might not have needed the full amount this year if your taxable income was reduced to zero without applying the full carryover, or you might have used more of the carryover to offset gains in a prior year and you didn't realize it.