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Since you were so patiently informative...I'm going to ask 1 more question, hoping you will respond: hubby & I are retired. Our earned income is only $3000, thus our taxable income ends up being ZERO. Should we still include the investment carryover loss of $5800? I'm concerned if I don't include this carryover loss, we will lose it--meaning lose the chance to use 'this loss' when we do have increased income from our 401K required minimal distributions.

Yes, you do need to claim it, or you will lose the rest of the carryover. If it was a $5800 carryover from last year, then you will only have $2800 left - so that you will probably use the rest of it this year.


Yes, it needs to be reported, but all $5800 should carry forward to next year. See the capital loss carryover worksheet in the Schedule D instructions.

Ira
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