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To my knowledge and experience, you have to claim it....unless there is an NOL and/or it creates an NOL...and then you have to compute under the NOL rules.
Even if you don't claim it; in computing the capital loss carry over from 2016 into 2017, you MUST reduce the capital loss carryover by the amount that could be claimed in 2016. Thus, since you HAVE to reduce the carry over anyway, you should claim the loss, since you'll lose the amount in the carry forward.
I can't find it, but something in my memory tells me that you have to claim the loss, if not otherwise prohibited.
Your allowable capital loss deduction for the year, or
Your taxable income increased by your allowable capital loss deduction for the year and your deduction for personal exemptions.
To my knowledge and experience, you have to claim it....unless there is an NOL and/or it creates an NOL...and then you have to compute under the NOL rules.
Even if you don't claim it; in computing the capital loss carry over from 2016 into 2017, you MUST reduce the capital loss carryover by the amount that could be claimed in 2016. Thus, since you HAVE to reduce the carry over anyway, you should claim the loss, since you'll lose the amount in the carry forward.
I can't find it, but something in my memory tells me that you have to claim the loss, if not otherwise prohibited.
Your allowable capital loss deduction for the year, or
Your taxable income increased by your allowable capital loss deduction for the year and your deduction for personal exemptions.
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