I went overseas and just returned. Sorry for my delay reply.
I went back to see all my tax returns to make sure I calculate correctly.
2014 - I filed $8,000 capital gain
2015 - I filed -$3,000 capital loss (I sold stocks and had a loss of $41K)
2016 - I filed -$3,000 capital loss
2017 - I filed - $3,000 capital loss
2018 - I filed -$3,000 capital loss (Note: I filed part-year Virginia Tax Return because I became a resident in Washington state on June 30, 2018).
With that, does that mean I need to subtract additional $1,500 from carryover loss of $47,000?
As a result, I need to subtract total of $10,500 from $47,000 carry over loss? In other words, I can use $36,500 to offset some of home sale, right?
I look forward to hearing your advice.
Thank you so much,
Maureen
