Capital Loss Carryover Worksheet

In the publications on the IRS web site, the worksheet in Publication 550 speaks about carrying losses forward from 2010 to 2011. However, the instructions for Form 1040 Schedule D give the instructions for carrying
forward from 2009 to 2010. Why the difference? Either they should both talk about the carryover that can be used next year from this year's return, or about the carryover from last year's return to this year. Or so I would think.
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On 3/7/11 10:35 AM, Larry Israel wrote:

What do you mean, Larry? Both are important. Every year I have to take whatever carried from prior year, do the math, and see what gets carried to next year. They are two separate calculations, both needed, each and every year for some people. It just depends on where your are within the forms. Joe
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On 3/7/11 8:35 AM, Larry Israel wrote:

It's a silly little exercise.
The instructions for a tax form are there to help you complete the form. To complete the 2010 Schedule D you need to know the carryover loss from 2009. You don't need to know what carries over to 2011.
The Pub exists to "provide information on the tax treatment of investment income and expenses." The worksheet is provided to you as a helpful aid once you complete your 2010 tax return and have an interest in what may be available to you in the form of a carryover loss.
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Alan
http://taxtopics.net
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550
carrying
talk
return, or

would
... Which will be covered in the 2011 instruction booklet....

The IRS is not concerned with helping a taxpayer plan carryovers for the future.
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