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Get your taxes done using TurboTax
it depends. If I understand you there are capital loss carryovers each year that have not been used up. If the amount is greater than $3,000 then you should use the $3,000 and divide it by 12, then multiply it by the number of months for each period. Once you arrive at your number for each period you would reduce your other income by that amount in each period.
The reason is that unless you have gains that will offset that loss, the maximum allowed will be $3,000 per year. Of course if the loss is less than $3,000 you should use the actual amount when calculating the income reduction amount in each period.
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‎February 21, 2024
2:18 PM