MargaretL
Expert Alumni

Get your taxes done using TurboTax

Yes, you are correct that there will be no change if you already had prior $3,000 carryover losses. But you must file to show the $60,000 loss and the carryover losses. Also, the IRS has a copy of the 1099-B and will be looking for the gross proceeds and basis from it on your tax return.  

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