Investor Help (NO Ihub questions)

[cintrix]

Yes! That is what you would have to do. Say we use that 17k carryover example. Next tax year you have a total of 27k in gains for that year. You take the 17k and use it against the 27k and only pay taxes on 10k. There is no 3k deduction because your bottom line of gains is over 3k. Take a look at the Sch D - look at lines 6 and 14. You enter the carryover amount after you calculate the gain/loss amount:
https://www.irs.gov/pub/irs-pdf/f1040sd.pdf