Ask Terry Questions sold depreciated stock from a GRAT

sold depreciated stock from a GRAT

By Terry Savage on December 03, 2023 | Taxes & Economy

Ms. Savage,
About 6 years ago I received a GRAT that came with a 44 thousand plus dollars in stock losses.
I have used some of it to wash sales of my sold stock gains. I understand that I can roll any unused
with any other loss I’ve incurred from current stock loss sales each year. I also understand
that I can only use $3,000 every year from this rollover. Unfortunately , due to circumstances of my age and health issues, I will never be able to use all of this nor would my four daughters for the same losses because it will not transfer to them in the trust. So my question is, is there any other way to use this loss.

PS. I enjoy your column in the Sunday Chicago TRIB and your interview on 60 Minutes.

Terry Says

Gosh, that’s a sophisticated tax question. I can’t think of a way to use this loss carryforward — except to take a huge gain and offset it. But please discuss with your CPA.



a personal
finance question