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June 1, 2019
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I have a -3000. Capital Gains this has also shown up on my state return what do I do with it.

  • June 1, 2019
  • 1 reply
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Best answer by Cindy0H

Just leave it. This is a capital loss. This is good as it is reducing your income and, therefore, your taxes. 

Net losses are deductible, but only up to a maximum of $3,000 ($1,500 if married filing separately). Any capital losses you couldn't deduct this year can be carried forward and deducted on future tax returns. This is called a capital loss carryover.

More info on this subject:

https://ttlc.intuit.com/replies/3301738

1 reply

Cindy0HAnswer
Employee
June 1, 2019

Just leave it. This is a capital loss. This is good as it is reducing your income and, therefore, your taxes. 

Net losses are deductible, but only up to a maximum of $3,000 ($1,500 if married filing separately). Any capital losses you couldn't deduct this year can be carried forward and deducted on future tax returns. This is called a capital loss carryover.

More info on this subject:

https://ttlc.intuit.com/replies/3301738