Can I elect to defer Cap gains if I have a cap loss carryover?

Member since 2019 · 4 posts · 0 votes

I have a large capital Loss carryover balance from previous years. If I sell stocks now and generate capital gains, can I elect to defer the gain and use the gain in a Qual. Opportunity Zone fund without using any of my capital loss?

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Scott McIntosh
Attorney · Lexington, KY · Member since 2019 · 41 posts · 37 votes
6y
Yes, you can.
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Basit SiddiqiBusiness Member
Accountant · New York, NY · Member since 2015 · 8k+ posts · 4k+ votes
6y
@Teresa Wang

This will allow you to preserve the capital loss carryforwards.
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Teresa Wang
OP
Member since 2019 · 4 posts · 0 votes
6y
@Basit Siddiqi and @Scott McIntosh
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