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I keep seeing the 3k limit on capital gains but what if you have a much larger loss against a large gain?
Say I have a total capital gain on sale of stock of $50k, but I have a loss of another stock of $10k (assume all long term). Is the $10k completely offsetting the gain for a total of $40k total taxable gain (50 minus 10) the same year or will I still hit the $3k limit and trigger the need for a carry-over?
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‎December 30, 2024
8:24 AM