Read a dozen website, including below and searched the board.
Question: Long term capital losses can be carried forward and used in future years against long term gains. There's no limit to the amount of carry forward that can be used against future long term gains ? Correct
The $3,000 maximum referenced below is only when long term losses are used against regular income - for that there's a $3,000 annual maximum.
Tax Topics - Topic 409 Capital Gains and Losses
So if a person had:
2014: $40k long term loss, $5k long term gain, $20k W2 income
2015: $15k long term gain, no losses, $20k W2 income
2016: $10k long term gain, no losses, $20k W2 income
2014: $5k of LT loss offsets $5k gain, $3k LT losses offsets $3k W2 income
($32k of losses left after this)
2015: $15k of LT losses offsets $15k gain, $3k LT losses offsets $3k W2 income ($14k losses left after this)
2016: $10k of LT losses offsets $10k gain, $3k LT losses offsets $3k W2 income ($1k losses after this)
Sorry if I'm stupid.... thanks !