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New Member
posted Feb 24, 2025 10:50:08 AM

How can I manually reverse $3K capital loss applied by TT, given our taxable income is <$6K after deductions, so I can carry forward more capital loss to next year?

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1 Replies
Expert Alumni
Feb 24, 2025 11:04:49 AM

The capital loss allowed deduction of $3,000 per year must be taken in the current year, you are not allowed to carry it forward even if you don't have any capital gains in the current year.