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Return to income

Do I use a Schedule D Form to claim my capital loss carryover from last year?

Report the capital loss carryover on a Schedule D Form. When you carry over a loss, it retains its original character as either long-term or short-term.

Add a short-term capital loss carried over to the next tax year to short-term losses occurring in that year. A long-term capital loss carried over to the next year reduces that year's long-term gains before its short-term gains.

If you have both short-term and long-term losses, apply your short-term losses first. Apply these against the allowable capital-loss deduction. If you haven’t reached the limit on the capital-loss deduction after using the short-term losses, apply long-term losses until you reach the limit.

You can carry over extra capital loss indefinitely.

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Calculators

So how much will you get (or owe) this year? That’s the million-dollar question. We happen to have three very useful calculators to help you estimate your refund or balance due.

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