Thank you for everyones contribution, however I am still unclear with this.
If I have a USD 10,000 capital loss carry forward from 2019, how do I carry forward the entire amount of USD 10,000 to 2020?
On schedule D, Part III, line 21, can one enter USD 0 when filing using turbotax, or are we forced to enter the smaller of the loss on line 16 or USD 3,000, as written in the instructions?
If I am forced to enter USD 3,000 per year for 3 years and not be able to offset with any capital gains, I would only have USD 1,000 of capital losses to carry forward in 4 years.
If I have a capital gain of USD 12,000 in 5 years, with no more capital losses to carry forward, I would have to pay capital gain taxes on the full USD 12,000? Ideally I would like to carry forward the entire amount USD 10,000 capital losses from 2019 to the year I need to use these capital losses. With this example, I would expect to pay taxes on 12,000 (capital gains yr 2025) -10,000 (capital losses yr 2019) = USD 2,000. Is this possible?