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Investors & landlords
No, the loss must be applied to the Long Term Capital gain first.
From the TaxBook: "When a taxpayer carries over a loss, the loss remains long term or short term. A long-term loss carried over to the next tax year will reduce that year's long-term capital gains before it reduces that year's short-term capital gains."
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March 12, 2022
2:08 PM
2,363 Views