How does a corporation deduct a capital loss?

Subchapter C Corporation This type of corporation can deduct capital losses only up to the amount of capital gains. If capital losses exceed capital gains, the excess is first carried back three years prior to the loss year and used to offset capital gains. Then, any unused loss is carried forward up to five years from the loss year to offset capital gains in those years.

If the corporation is dissolved, the loss is not carried to any other year or return, it is simply lost. A corporation may not carry a capital loss from or to a year in which it operates as a Subchapter S Corporation. Rules for Carryback and Carryforward When carrying a capital loss from one year to another, the following rules apply: • When figuring the current year capital loss, you cannot combine it with a capital loss carried another year.

In other words, you can carry capital losses only to years that would otherwise have a net capital gain. €¢ If you carry capital losses from 2 or more years to the same year, ... more.

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