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Investors & landlords
It should have been carried over to your 2022 return. Did you transfer from 2022 to start 2023? Maybe it used it up in 2022? You get to first offset the loss against any gains you have each year so that can use more of it up. Then after applying the loss to the current gains if there is still a loss, you can take a max loss of 3,000 per year.
You have to report the carryover every year until it's used up. You can't skip a year. Even if you don't report it on your return you have to reduce it by the 3,000 (1,500 MFS) when you carry it over to next year. You can't choose when to use it.
‎April 11, 2024
11:54 AM