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Deductions & credits
Yes, the carryover losses first go against any gains for the year that you may have.
Then, if there are any losses leftover, they carryover to the following year where you can use up to $3000 per year unless you have gains then too. The $3000 per year cap is only if you have an overall loss for a particular year. Then, you can only claim up to $3000 in loss at a time.
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‎February 21, 2025
4:10 AM