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Why is the amount of capital loss used in 2017 $4888 instead of $3000?
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June 5, 2019
3:56 PM
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Get your taxes done using TurboTax
Did you have capital gains in 2017? You can use capital losses to offset capital gains during the tax year. The $3,000 limitation applies to the ability to offset ordinary income each year. So, if you have no capital gains, then you can deduct only $3,000 against ordinary income.
June 5, 2019
3:56 PM