retire2020
Recycles dryer sheets
- Joined
- Sep 22, 2012
- Messages
- 459
I just logged into my Schwab account and found out that one of the stocks(AVANTAX INC) I've been holding over 25 years was sold due to mandatory merger. As a result I've over 125K capital loss. I hardly have any income but my capital gain distribution from other equities at year end would be around 25K. My total income including year end capital gain, dividends and a small consulting income would be about 50K. We are family of four so we'll not be paying any tax on the year end capital gain distribution. I do not want to use any realized capital loss against capital gain. What are my options here?
Can I just carryover that entire 125K loss to future years? I was not planning to sell anything until year 2029 but now I do not have any choice and I just do not want this loss to go to waste.
Can I just carryover that entire 125K loss to future years? I was not planning to sell anything until year 2029 but now I do not have any choice and I just do not want this loss to go to waste.