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Investors & landlords
yes. capital gain distributions reported on 2a of 1099-div flow to line 13 of schedule D so they can be offset by capital losses. it will be offset by other net long-term losses first and if you end up with overall net long-term losses they can be used to offset net short-term gains. you can deduct up to $3,000 of net capital losses against other income. any excess gets carried forward to 2023. Turbotax will do all the calculations automatically.
‎December 22, 2022
1:20 AM
962 Views