- My assumption is that the carryover losses into 2023 are $8,901 (11,901- 3000). Is that Correct? YES
- My second question is that this year, i have $8,731 in capital gains so far. Can i use the carryover from last year of $8,901 to reduce my capital gain of $8,731 in full this year YES , or am i limited to only using $3,000 from the $8,901 i had carried over? NO
- In this case, i have an excess capital loss of $170 ($8,901-$8,731), assuming that i'm able to use the entire carryover loss from last year, can i take the $170 loss against the $3000K capital loss allocation for 2023? YES ... IN THIS CASE THE CAP LOSS IS FIRST NETTED AGAINST THE CAP GAIN THEN UP TO $3000 OF CAP LOSS CAN BE DEDUCTED AGAINST OTHER INCOME ... IN YOUR CASE $170 ... WATCH THE SCH D CALCULATIONS.
