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April 11, 2024
Question

investment gain or loss

  • April 11, 2024
  • 1 reply
  • 0 views

The allowed deduction for loss is $3000. For some reason this year deducted only $1500.

This year my investment loss is $33,111.00

Any explanation?

    1 reply

    April 11, 2024

    The IRS limits your net loss to $3,000 (for individuals and married filing jointly) or $1,500 (for married filing separately). Any unused capital losses are rolled over to future years.

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    soyherAuthor
    April 11, 2024

    Thank you very much!