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vhichdl
New Member

I have capital loss carryover from 2023 -$8087, I through all capital losses used in 204 should be limited to $3000. Why my form shows that I used all $8087 in 2024?

 
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3 Replies
DawnC
Employee Tax Expert

I have capital loss carryover from 2023 -$8087, I through all capital losses used in 204 should be limited to $3000. Why my form shows that I used all $8087 in 2024?

Did you have capital gains in 2024 that were offset, reduced to zero?  

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vhichdl
New Member

I have capital loss carryover from 2023 -$8087, I through all capital losses used in 204 should be limited to $3000. Why my form shows that I used all $8087 in 2024?

I see.  Yes. I do have capital gains in 2024 with $10000+.  Thanks.

DawnC
Employee Tax Expert

I have capital loss carryover from 2023 -$8087, I through all capital losses used in 204 should be limited to $3000. Why my form shows that I used all $8087 in 2024?

You used your all of your capital loss carryover.  

 

You can deduct up to $3,000 in capital losses ($1,500 if you're Married Filing Separately). Losses beyond that amount can be deducted on future returns as a capital loss carryover until the loss is used up.   Example

 

5 Things to Know about the Capital Gains Tax

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