Am I right with these, if I have capital loss carryover from prior year:
Capital losses deduction in a tax year is limited to $3,000 including applying the carryover from prior year?
Say, if we have a $4,000 loss in a tax year, we could only deduct $3,000 and the other $1,000 add to carryover of prior year?
If we have no gain or loss in a tax year, we can deduct $3,000 carryover from prior year to our earned income?
Thanks
