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    jani0113's Avatar
    jani0113 Posts: 1, Reputation: 1
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    Oct 29, 2009, 04:49 AM
    Short term capital gain tax carryover
    I had a short term capital gain on a real estate sale in 2008 and paid the taxes.. then in 2009 paid that same home buyer $20,000 to cover a problem that developed after the sale... I have no capital gain in 2009 but do plan on having one in 2010. Can I use the $20,000 I paid out in 2009 as a carryover against my 2010 taxes instead of against my regular income in 2009? How would I go about asking the IRS for a carryover until 2010 if that is possible? Thanks for any help. Jani
    ebaines's Avatar
    ebaines Posts: 12,131, Reputation: 1307
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    Oct 29, 2009, 10:04 AM

    You should file an amended return for tax year 2008, showing the correction to the sale price to be $20K less than what you originally reported. This will get you a refund on your '08 taxes.
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