Background:
- I had a $7,990 capital loss carryover from last year.
- I understand I can deduct up to $3,000 of this carryover to reduce my taxable income in 2023.
- Before adding my Betterment 1099-B, my tax software showed the expected $3,000 deduction in "All Capital Losses Used in 2023" row.
Issue:
- After importing my 1099-B, the "All Capital Losses Used in 2023" amount jumped to $3,109.
- My Betterment statement only shows a $105 gain, so I'm confused where the extra loss came from.
Questions:
- How could my 1099-B cause this change if it doesn't show any losses?
- Can more than $3,000 in capital loss be used in a single year?
- Could you please explain how this calculation works?
- What should I look for in my Betterment 1099 B to understand this calculation?
Thank you for any insights!
