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Get your taxes done using TurboTax
Yes, the answer is still correct. This assumes you are no longer married and the capital loss was split between you during the divorce proceedings.
If you are not using the married filing separately (MFS) filing status the allowed loss each year is a maximum of $3,000 if gains have not removed your capital loss. Any excess will be carried forward to the following tax year.
The loss carryover is divided and allocated based on the separate capital gain/loss for each spouse. If this was joint, then you could divide equally. But it would be advisable to check with your divorce attorney in case your decree says something specific. If community property state must do 50/50.
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March 1, 2025
9:00 AM