P.R. Laws tit. 13, § 10723
(a) Increase in the limit of capital loss allowed against regular income.— In the case of a taxpayer other than a corporation or partnership, the limit mentioned in the Code with respect to capital losses that may be used by the taxpayer against his regular income for a specific tax year shall be five thousand dollars ($5,000), insofar as the capital loss is generated from the sale of a qualified property carried out after the effective date of this act, but on or before June 30, 2013.
(b) Capital loss carry-over.— In the event that the taxpayer has a net capital loss generated from the sale of a qualified property made after November 1st, 2011, but on or before December 31st, 2017, the carry-over of such loss shall not be limited to the five (5) succeeding taxable years, but rather it may be carried over up to a maximum of fifteen (15) years, pursuant to subsection (a) of this section.
(c) To be entitled to the benefits set forth in this section, the taxpayer shall declare the sale in the income tax return corresponding to the year in which the loss was generated.
History —Nov. 1, 2011, No. 216, § 4; Dec. 21, 2012, No. 303, § 3; Nov. 17, 2015, No. 187, § 99.