Is applying a capital loss carryover to a current years capital gain optional?
Deails:
I have a capital loss carryover of say $5000.
In 2007 I have a capital gain of $2000.
I know I could offset that gain with some of my capital loss carryover.
BUT... suppose I am already paying zero in tax and I don't need to reduce the current capital gain amount.
Can I retain the whole $5000 capital loss carryover to future years?
Thanks in advance... Budster43