Carry Forward Loss, if I only need the standard deduction this year?

[aj485]

@footsox

And it looks like the standard deduction is all that we need for 2023 taxes. OK. So, I sold one stock at a loss in 2023.

Whether you take a standard deduction or itemize your deductions has NOTHING to do with calculating your capital gains.

@footsox

So, I sold one stock at a loss in 2023. The loss was approximately a $2000 loss (long term capital loss).

First, that loss would be applied to any capital gains that you realized during 2023. Then, if you still have a net loss, up to $3000 of that net loss will be applied to your ordinary income for 2023. In your case, that means that you would have no remaining capital loss.

@footsox

If I use the standard deduction for 2023 taxes… can I carry forward the 2023 loss and use it to offset my 2024 capital gains from selling stock in 2024? Or does the loss for 2023, stop there?

Again - one has NOTHING to do with the other. You seem to have a severe misunderstanding of how taxes are calculated. I will (once again) STRONGLY RECOMMEND that if you are unwilling to continue paying your CPA to do your taxes, that you take advantage of the AARP Foundation’s Tax Aide service, where your taxes will be prepared for you for free. Here is the locator webpage AARP Foundation Tax-Aide Locator

AJ