SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Strategies & Market Trends : Income Taxes and Record Keeping ( tax )
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: x70sxn who wrote (2029)3/21/1999 11:13:00 AM
From: Gorak Shep  Read Replies (1) of 5810
 
I am filing Scd D. I used a carry over worksheet for 95 and never used it so far. Can I use the loss of 95 now in 98. The line 6 of schd D bother me cus' it specifically mentions 97 worksheet, which I did not file.

First, you don't file the carryover worksheets but you are supposed to compute them and keep them from year to year as you have carryover losses.

I believe you are supposed to compute the carryover worksheet each succeeding year and use up the loss if you have gains in those new years to match against or at least use up the $3,000 max even if it does not reduce your taxes in those years.

So I don't believe you can legally just use the loss from 1995 in 1998. I think you need to figure the worksheet for 1996 and for 1997 to see what carryover you have left to apply to 1998 if any. And you may want to amend your 1996 and 1997 taxes if they would have been reduced by enough to justify the trouble.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2026 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News