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Get your taxes done using TurboTax
"Alternatively, a maximum of $3,000 of losses can be netted against ordinary income, but since you are in a 37% tax bracket, that will only reduce the taxes you owe by ~$1,100 ($3,000 times 37%)"
You make it sound disappointing.
The higher your bracket, the more valuable a $3,000 deduction is.
Also this is not an alternative, if losses are not offset completely, you still get the (up to) $3,000 deduction.
If you use TurboTax CD/Download (not TurboTax Online) you can do a TRIAL 2022 tax return and enter all these amounts. and get your future tax situation in detail. You still have to extrapolate what will happen for the rest of 2022 but so would a CPA have to do that.
‎August 4, 2022
8:57 AM