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Can capital loss offset more than $3000 in year of death?
Does anyone know if there's any way to offset more than $3000 of regular income with capital losses in the year of death? My dad died last year, and I'm doing his final year taxes. He had more capital losses than regular income, yet owes a bunch in tax. Is there any way I can apply that capital loss to his regular income, or does the capital loss deduction for everything beyond $3000 just disappear?
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March 17, 2024
6:20 PM