How Long Can Losses Be Carried Forward for Cgt?

Are how Long Can Losses Be Carried Forward for Cgt a question on your mind? Read key explanations in our feature story.

The taxpayer can take $3,000 of that loss as a deduction to reduce other income, called ordinary income, on the current year tax return. The remaining long-term capital loss is $4,000, which can be carried forward to the next tax year to offset capital gains and ordinary income up to the $3,000 limit.