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- Oct 13, 2010
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It's that interpretation of English again... I'd say if you HAVE a capital loss (this year's taxes) that's one thing. If you HAD a capital loss (prior year), that's another. My presumption was that the OP would cease and desist all sales of capital items in the year where the objective was filing a 1040A. If he HAD a capital loss (ie a carry over), then he'd be walking away from that benefit in order for his offspring to get more student loans.https://books.google.com/books?id=H...l loss carryover but no capital gains&f=false
see the middle column (exceptions 1 & 2)
If you have a capital loss (which includes a capital loss carryover), exception 1 is not met; therefore exception 2
applies.