Remaining Captal Losses

[Christian]

A client passed on in 2024 having some $25,000 plus in remaining capital losses. Are these deducted on Schedule A or on the Form 1040?

[Christian]

I should have said are all of the losses deducted on the Form 1040 which would require possibly overriding the line item as using Schedule A the client may not have gotten the full amount taken off. It is a moot point as her itemized deductions far exceed the standard deduction but the ATX software shows only the $3000 yearly amount on the Form 1040 so I will simply deduct that from the total loss and show the remaining amount on her Schedule A. I think this is correct but I have not done one of these in many moons.

[jklcpa]

No, the losses in year of death are handled like any other year. Any capital losses that are unused (those that would carryfwd if the person lived) are lost. They die with the decedent.