Home & Business edition
Married filing separately, itemize
I removed all other income sources. $595,000 is 50% home sale gain, minus $250,000 exclusion; $345,000 is taxable gain. I have -$358,174 capital loss carry from 2023. Tax should be $0. But TurboTax says I owe $33,962.
What am I missing?
Thank you very much!
Called TurboTax support; it was a waste time. She told me I am only allowed to deduct $3000 capital loss per year.
