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Yes but you need to use Premier version. Did you actually sell something for a loss? You can't deduct unrealized losses like if your stock or fund went down.
If you have investment sale losses, after you subtract the losses from your gains you can only deduct up to 3,000 per year. You can only deduct up to 3,000 (1,500 MFS) loss per year after any gains you have. So if you have a lot of current gains you can use up the loss. The rest you will have to carryover until it is used up.
Sorry I had to fix a typo above to say... you CAN'T deduct unrealized losses.
I would add the realized loss needs to be in an after tax account, you cannot deduct a loss in an IRA or Roth account.
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