topic Re: Can you explain why I had a capital gain/loss when no property changed hands? in Deductions & credits

Can you explain why I had a capital gain/loss when no property changed hands?

debbyburow — Sat, 13 Mar 2021 00:32:16 GMT

can i talk to a person

Re: Can you explain why I had a capital gain/loss when no property changed hands?

ThomasM125 — Sat, 13 Mar 2021 02:00:29 GMT

You can only deduct a net capital loss up to $3,000 in a year, the rest gets carried over to the next year. So, it is possible that you have a capital loss carried over from the previous year that is showing up on your tax return this year.

Re: Can you explain why I had a capital gain/loss when no property changed hands?

Mike9241 — Sat, 13 Mar 2021 02:22:04 GMT

which is it - a capital loss which can come from a carryover or a capital gain which could only come from a current year transaction? but gains could come from many different input forms.