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Deductions & credits
" I basically want to know if that large loss could offset a large gain in future years or will it just keep coming off 3K at a time."
Both. You can deduct $3000 per year if you have no offsetting gains, and you can apply to loss to a large gain at any time in the future. Just be sure to keep filing schedule D, so the loss carry forward is documented.
‎December 21, 2023
8:54 AM