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Investors & landlords
To the best of my knowledge, you can only carry back a net operating loss, which would come from business losses. Unless you are a full-time trader and report your investment activity on a business schedule C form, you cannot carry back losses on investments. They are normally considered capital losses, which can be deducted in the current period up to a net loss of $3,000, with the balance being carried forward to future periods.
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‎April 16, 2020
12:48 PM