for example kid has $10k cap loss from last year. her income this year is $3k. TT is using $3k of carry over to reduce her income to 0 but the first $2k is tax free so only want to use $1k of cap loss and carry the remaining $9k over to next year rather than only $7k is that possible?
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No. The IRS requires that you include the entire amount on your return that you are entitled to.
For a more thorough explanation of how this will work, see the link below.
No. The IRS requires that you include the entire amount on your return that you are entitled to.
For a more thorough explanation of how this will work, see the link below.
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