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June 3, 2019
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At VA state tax, allocate income between spouse, enter wife's portion of following items what can fill under wife's name for capital lose it shows federal -$3000

  • June 3, 2019
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Best answer by TerryA

$3,000 is the maximum allowed federal capital loss deduction. You just have to figure out how much of the total federal capital loss you have in your federal return (it's more than $3,000) is attributable to your property and how much is attributable to your wife's property. If it's equal then enter $1,500 for each.

1 reply

TerryAAnswer
Employee
June 3, 2019

$3,000 is the maximum allowed federal capital loss deduction. You just have to figure out how much of the total federal capital loss you have in your federal return (it's more than $3,000) is attributable to your property and how much is attributable to your wife's property. If it's equal then enter $1,500 for each.

June 3, 2019
If we split it, do we enter it as a positive or negative number?  Example -$1500 or $1500.  It changes the refund amount.