My Short Term Capital Loss Carryover In The Next Year Tax Return ?
Q: I had a huge Short term Capital loss last year? I have some long term capital gains this year. Can i write off the long term profits against my short term capital loss carryover in the next year tax return ?
A: -To be a gain or loss, you have to sell the property, and report the sale on Schdule D. On that same schedule D you carryforward the loss from last year, and on schedule D, gains and losses are combined. -Schedule D combines them for you.
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