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Retirement tax questions
Probably only 3,000. Did you have any investment or stock gains? If you have a net loss for the year you can only deduct 3,000 (1,500 MFS) max on your tax return. The rest you have to carryover to next year. You have to report the carryover every year until it's used up. You can't skip a year. So you can use 3,000 of the loss on your return but you have to carryover 1,000 to the next year.
See Publication 550. Capital Losses start on page 66
‎June 16, 2023
1:36 PM