Carry over loss carried backward?

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  • zeros
    Senior Member
    • Dec 2006
    • 921
    #1

    Carry over loss carried backward?

    Client has capital losses exceeding $3000 for 2008. Does he have the option of carrying the loss to a prior year or does he have to carry it forward?
    Tags: None
    • S T
      Senior Member
      • Jun 2005
      • 5053
      #2
      Capital Losses

      I believe capital losses only carry forward. I don't believe there is any election.

      NOL you have to file the election to either carry forward or in the event of not filing the election, the NOL can carry back to prior years.

      Sandy

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        • BHoffman
          Senior Member
          • Feb 2008
          • 1768
          #3
          Agree with Sandy.

          Sure would be nice right about now to be able to carry back capital losses, wouldn't it?

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