Capital Loss Carryover

[mrbill]

Married couple have a $13K Capital Loss Carryover for 2010. They sold stock with a $20K Capital Gain. Based on their overall 2010 income, they are in the 15% tax bracket, ergo no tax on the $20K CG. Can they postpone the $13K Capital Loss Carryover for a future year, as it would not be beneficial for 2010. Give Thanks,

[Gretel]

Not that I know of. Would be nice if we could pick and choose.

[Dusty2004]

Sorry

Married couple have a $13K Capital Loss Carryover for 2010. They sold stock with a $20K Capital Gain. Based on their overall 2010 income, they are in the 15% tax bracket, ergo no tax on the $20K CG. Can they postpone the $13K Capital Loss Carryover for a future year, as it would not be beneficial for 2010. Give Thanks,

It would be nice to be able to pick and choose when you can take the Capital Loss Carryover but there is no choice. If you have a gain you have to use it up.

Dusty

[FEDUKE404]

Picking a year

Married couple have a $13K Capital Loss Carryover for 2010. They sold stock with a $20K Capital Gain. Based on their overall 2010 income, they are in the 15% tax bracket, ergo no tax on the $20K CG. Can they postpone the $13K Capital Loss Carryover for a future year, as it would not be beneficial for 2010. Give Thanks,

Ah, if I could only pick when I want to pay my taxes.

BTW: The answer is "no."