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simfish
February 4, 2025
Question

If I have net short-term capital loss of -$7,104.00 from last year, can all (>3000) of it be used to offset capital gains of higher than 7000 this year?

  • February 4, 2025
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    DianeW777
    February 4, 2025

    Yes, you can use all of your short term carryover losses to net your overall gains in 2024.  If you have gains in excess of the full $7,104 short term loss carryover, then all of the loss will be used up.  The carryover loss is limited to $3,000 only if there isn't enough gain to use it all up.

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