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So to be clear, even though the bulk of my capital gains came in December of 2024, and they exceed the amount of the capital loss carryover, I can put the entire amount of the carryover in the January-March period?
I need to change my entries, so before I do that I want to make absolutely sure I am understanding you.
Thanking you in advance.
Yes, that is correct. You are entitled to the capital loss carryover beginning January 1, of the tax year from a prior year carryover. You can follow the steps provided by our awesome tax expert @KeshaH.
You're welcome.
Thanks, I was confused by the way Keisha's last few sentences, so I took the conservative route and applied it in the 4th quarter. Oh well. Too late now. I filed.
thanks for the comments.
janet
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