Let me rephrase my questions:
When I filed taxes in 2023, my Capital Gain was $22K ($6K for short term and $16K for long term). Since I could only claim $3K Capital Loss Limit per year, my Capital Gain Carryover to 2024 was $19K ($22K - $3K = $19K).
For Tax Year 2024, my Adjusted Gross Income is not negative. I have a long term capital gain of $15K and short term capital gain of $10, total is $15,010
1) Can I deduct the whole amount of capital gain $15,010? ($19,000 - $15,010 = $3,990) AND THEN ANOTHER $3K of the Capital Loss Limit per year? $3,990 - $3,000 = $990. $990 will be the Capital Loss Carryover to 2025?
OR
2) Since the Capital Loss Limit per year is $3K, I can only deduct $3K from $15,010 capital gain (tax year 2024)? ($15,010 - $3,000 = $12,010) and I have to report $12,010 Capital Gain? And my Capital Gain Carryover to 2025 is $16K ($19K - $3K = $16K)
Thank you so much!
