DaveF1006
Expert Alumni

Deductions & credits

No, your carryover should be reduced by $1560. The $1440 amount should be retained in the carryover for next year since you were not able to utilize it. 

 

I am unaware how you can get rid of the loss carryover provision other than earned a substantial  of capital gains income and then let it completely absorb the entire carryover amount. Other than this, I am not sure why you even would want to get rid of this if you expect to earn capital gains in the future. Perhaps, I am misinterpreting your question.

 

 

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