Tax Law (Questions About Taxes)/income loss


Hi john, in 2011 I had a loss of personal loan in the amount of $6400.
I reported $3000 loss because I think that's the max for a single year.
In 2012 I have a $5000 loss in the stock market. I cannot declare this due to the remaining $3000 I will need to declare from personal loan. Does this mean I have to declare the stock loss in 2013 and keep carrying over until I declare all loss. Can you explain how to declare loss. In my situation total loss is $8000, from 2011 carry over to loss in 2012


Thanks for your question.

The loss is reported in the year in which it is incurred, on Schedule D (and Form 8949).  Any prior carryover is reflected on Schedule D and is added to the current year loss to determine the amount available.  After the $3,000 is applied to the current year, the remaining will show on Schedule D as a carry forward to future years.

Hope this helps.

John Stancil, CPA  

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John Stancil, CPA


I can answer questions on personal income taxes, partnerships, and some corporate income taxes. I can deal with some state tax questions. Limited gift and estate tax questions. I am also familiar with ministerial and church tax reporting issues. I am Professor Emeritus at Florida Southern College. Sales taxes and property taxes are state and local issues so I am not likely be be able to give you an in depth answer on those types of taxes. I have maintained a CPA practice, specializing in tax, for over 35 years. I am a member of the National Association of Tax Professionals, The Florida Insititute of CPA's, The NCPE Fellowship. In addition I am a Certified Mentor for SCORE. Visit my website at I also offer seminars and consultations to churches and clergy on their tax issues at Also visit my blog, I am listed on Tax Connections at Prepare and file your own taxes at


I hold a doctorate in Accounting, and am a CPA. My certifications of CIA, CFM, and CMA are inactive. I passed all certification examinations on the first attempt, and received honorable mention for my scores on the CIA exam. I have operated a CPA firm for over 37 years and have taught accounting and tax at the college level for over 35 years.

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