Capital Loss Carryover Worksheet

Capital Loss Carryover Worksheet

Keep for Your Records

Use this worksheet to figure the estate's or trust's capital loss carryovers from 2022 to 2023 if Schedule D, line 20, is a loss and
(a) the loss on Schedule D, line 19, col. (3), is more than $3,000; or (b) Form 1041, page 1, line 23, is a loss.
1. Enter taxable income or (loss) from Form 1041, line 23 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2. Enter the loss from line 20 of Schedule D as a positive amount . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

1.

3. Enter amount from Form 1041, line 21 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
4. Adjusted taxable income. Combine lines 1, 2, and 3. If zero or less, enter -0- . . . . . . . . . . . . . . . . . . . . . .

3.

5. Enter the smaller of line 2 or line 4 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Note: If line 7 of Schedule D is a loss, go to line 6; otherwise, enter -0- on line 6 and go to
line 10.
6. Enter loss from Schedule D, line 7, as a positive amount . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
7. Enter gain, if any, from Schedule D, line 16. If that line is blank or shows a loss,
enter -0- . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
7.
8. Add lines 5 and 7 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
9. Short-term capital loss carryover to 2023. Subtract line 8 from line 6. If zero or less, enter -0-. If this
is the final return of the estate or trust, also enter on Schedule K-1 (Form 1041), box 11, using
code C . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Note: If line 16 of Schedule D is a loss, go to line 10; otherwise, skip lines 10 through 14.
10. Enter loss from Schedule D, line 16, as a positive amount . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
11. Enter gain, if any, from Schedule D, line 7. If that line is blank or shows a loss,
enter -0- . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
12. Subtract line 6 from line 5. If zero or less, enter -0- . . . . . . . . . . . . . . . . . . . . . . . . . . . .

4.
5.

6.

8.
9.
10.

11.

12.
13. Add lines 11 and 12 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
14. Long-term capital loss carryover to 2023. Subtract line 13 from line 10. If zero or less, enter -0-. If
this is the final return of the estate or trust, also enter on Schedule K-1 (Form 1041), box 11, using
code D . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

-11-

2.

13.
14.