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Investors & landlords
No. you must use $3K of the loss each year. A carry forward does not expire (except on death). It cannot be used against a wash sale.
Example $100K carry over loss from year 1.
10K of gains in year 2, 10K off set on schedule D, 3K loss claimed on form 1040 and 87K carries to year 3
10K of gains in year 3, 10K off set on schedule D, 3K loss claimed on form 1040 and 74K carries to year 4
10K of gains in year 4, 10K off set on schedule D, 3K loss claimed on form 1040 and 61K carries to year 5
70K gains year 5, 61K offset on schedule D, 9K of capital gains reported on form 1040
Example $100K carry over loss from year 1.
10K of gains in year 2, 10K off set on schedule D, 3K loss claimed on form 1040 and 87K carries to year 3
10K of gains in year 3, 10K off set on schedule D, 3K loss claimed on form 1040 and 74K carries to year 4
10K of gains in year 4, 10K off set on schedule D, 3K loss claimed on form 1040 and 61K carries to year 5
70K gains year 5, 61K offset on schedule D, 9K of capital gains reported on form 1040
May 31, 2019
5:44 PM
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