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Q: How do I get the part of the lost year tax paymnet
A: You can't recoup any of the tax payment, however, you can claim the capital gain loss. However, you can only deduct a maximum of $3,000 a year. The remaining balance of the loss is carried forward to future years until the loss amount is depleted. SEE BELOW:
If your capital losses exceed your capital gains, the excess can be deducted on your tax return and used to reduce other income, such as wages, up to an annual limit of $3,000, or $1,500 if you are married filing separately.
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No, there is not. The capital gain loss carries forward only, you cannot carry capital gains losses backwards like you can with net operating losses.
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