Check and see if you can carry the loss forward against current year short-term capital gains (assuming you have any). That's about the only way to do it I believe.
Maybe someone can save me some time. I'm lost here. Once I've calculated my (short term) capital loss carry over from worksheet 4-1, where does that number go? I can't find anywhere on the 1040 or schedule D.
I use a tax prep software program (TaxCut) but if I remember correctly, you save the sheet so that you have the carryforward amount for use on your next year's return. Jack
Thx, I believe that is the correct answer. I'm just going to save the sheet and records for next year. Next year I'm will use tax software for sure. I tried using TurboTax free online, but I didn't see an easy way to import trades to my schedule D so I gave up. I'm thinking I'll just mail it in now though I'd rather do everything electronically.