Schedule D Part IV

lexbobex · ‎April 4, 2023

Can the beneficiary take the FULL amount of the net loss from a house sale, not just the 3K limit as stated in part IV?

Where and how is that information input to take the FULL loss, not just 3K?

MayaD · ‎April 4, 2023

You can't deduct the full amount.

If you have capital gains from selling other assets, you deduct the loss against them first. If not you can only deduct up to $3,000 from your other income( $1,500 if you're married filing separately) and you can carry forward the rest to later years.

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