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Wallstreet Esq.
Wallstreet Esq., Tax Attorney
Category: Tax
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Experience:  10 years experience
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I had a sizable loss in the previous years. How can I deduct

Customer Question

I had a sizable loss in the previous years. How can I deduct from this years gain?
Submitted: 1 month ago.
Category: Tax
Expert:  Brian Michels replied 1 month ago.

Hello. My name is ***** ***** I'll be the Expert assisting you today. I look forward to helping you with your issue. What do the losses relate to? Capital gains or, passive activity losses or loss in excess of basis that was disallowed and carried forward? Did you complete a Form 6198 or Form 8582 in 2015 that has figures from the disallowed losses?