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Get your taxes done using TurboTax
You misunderstood the rules. The $3,000 limit is for capital losses used to offset ordinary income. There is no limit on the amount of capital losses that are used to offset capital gains. Capital losses, both from the current year and carryover, are first applied against capital gains. If the losses exceed the gains, up to $3,000 of the remaining loss is applied against other income.
‎April 3, 2024
12:04 PM