Capital Loss Carryover to Stock

No, you used $3000/year from 2003 to 2005, so there's only $91,000 left for 2006.

You can use all of the $91,000.

Are you sure they weren't applied further down the form?

Only a little: first, they apply to gains of the same type; then if there's a balance, they can apply to gains of the other type.

It lasts until it gets used up.

Seth

Well, the entire amount less the $3000 chunks that had previously been taken.

It means that in 2003 you would have taken $3000 against ordinary income and carried $97,000 to 2004. In 2004 you would have used that $97,000 to offset any cap gains realized in 2004. If none, you'd take $3000 against ordinary income and carry $94,000 to 2005. In 2005 you would have used that $94,000 to offset any cap gains realized in 2005. If none, you'd take $3000 against ordinary income and carry $91,000 to 2006. In 2006 you would use that $91,000 to offset any gains realized in 2006. You realized $100,000 in 2006, so you'd end up with a net gain of $9,000 and your carryover would be all used up.

Then you did something wrong when you entered your data into TT.

Yes. You do have to track ST and LT carryovers separately and you have to use ST carrovers first against ST gains, then against LT gains, then against ordinary income. Likewise, you have to use LT carryovers first against LT gains, then against ST gains, then against ordinary income.

Until you die or it's used up, whichever comes first.

-- Rich Carreiro snipped-for-privacy@animato.arlington.ma.us