Just a quick carry forward loss question?

Hi all,

I'm carrying forward a loss of $25K.  I want to sell one of my stocks this year and realize a $25K gain.  Can I use all of the carry forward loss amount to offset the gain and not owe any taxes?

Thanks for the clarification!

3 Answers

Relevance
  • Judy
    Lv 7
    1 month ago

    Yes.................................

  • Anonymous
    1 month ago

    Losses can offset gains.

  • Anonymous
    1 month ago

    Yes!

    Just look at schedule D.  You  list the loss carry forward on schedule D and combine it with this year's sales.  If you have enough gain, you can use up the entire loss in one year.  Statistically, most people use all such losses within 6 years, even with large losses.

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