it keep carrying over until that 30K is deducted? It has for the last 3-4 years now.....I do my taxes in Turbo Tax.
2007-02-06 08:05:44 · 3 answers · asked by Dick Richards 3 in Business & Finance ➔ Taxes ➔ United States
I sold some and held the rest. I am making out great now too. I just needed to sell some and reallocate those into other stocks. It paid off well!
2007-02-06 08:14:56 · update #1
Yup. You can use these loss carryforwards to the extent of any new capital gains plus $3000 each year until you've used them all up.
2007-02-06 08:12:40 · answer #1 · answered by Eduardo Fisher, San Jose, CA 3 · 0⤊ 0⤋
Every year you subtract $3000 from the carryover if you don't have any gains to take against it - basically you "use or lose" $3000 a year.
2007-02-06 16:11:40 · answer #2 · answered by Judy 7 · 0⤊ 0⤋
Why did you claim the loss,, shoulda waited out the market,,, I'M blingin after the last year and half!
2007-02-06 16:13:21 · answer #3 · answered by Anonymous · 0⤊ 0⤋