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JKCPA
JKCPA , CPA
Category: Finance
Satisfied Customers: 5883
Experience:  Bachelors degree and CPA with Accounting experience.
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If I have stock losses from 2009 I can only write off $3,000

Resolved Question:

If I have stock losses from 2009 I can only write off $3,000 per year until those losses are written off. But if I also have losses in 2010 can I write off another $3,000 per year? Or is $3,000 the max I can write off until the together balances are deducted?
Submitted: 5 years ago.
Category: Finance
Expert:  JKCPA replied 5 years ago.
Hello Customer,

Thanks for your question.

You can only deduct up to $3000 ($1500 if married filing separate) in overall capital losses per year. So you would add your 2009 carryover loss to your 2010 net capital loss and deduct $3000 from that figure to claim on your 2010 return and carryover the remaining loss to 2011.

Best regards,
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