You want to apply these losses to $2000.00 in short-term gains and $1000.00 in long-term gains. In addition, losses from selling short-term holdings will first offset current short-term gain, losses from selling long-term holdings will first offset current long-term gain, and so on, and the entire gain of a particular type must be offset before any remaining loss is applied to another type of gain.įor example, say you have $2500.00 in short-term losses from a previous year to apply to current gains. Remember that you can deduct only up to $3000.00 of any losses from previous years to offset your current-year gain. You can use Tax Planner values for your loss carryover (the default) or click Enter different values and enter the amounts of short-term and long-term loss that you want to carry over. In the Capital Loss Carryovers window, enter investment losses that you couldn't deduct in prior years, which you want to use now to reduce your capital gains.
