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-   -   Can I treat carryover loss as ordinary loss in the coming tax year? (https://www.askmehelpdesk.com/showthread.php?t=454680)

  • Mar 5, 2010, 09:59 AM
    rich_yap
    Can I treat carryover loss as ordinary loss in the coming tax year?
    Can I treat carryover loss as ordinary loss in the coming tax year?
  • Mar 5, 2010, 10:46 AM
    ebaines

    Each year you can have a maximum capital loss of $3k, and the excess is carried to the next year. Your long-term losses that are carried to next year are used to offset long term gains, and your short term carry-forward losses are used against any short term gains. If the result is a loss, it offsets your ordinary income (up to the $3K max).

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