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Loss Carryover

Loss Carryover Definition

Loss Carryover refers to the net amount of capital loss that is not deductible in the current year because it exceeds the annual capital loss ceiling. Net capital losses can only be deducted up to a maximum of $3,000 in a tax year, but the excess loss can be carried over indefinitely into future tax years. The amounts that have been carried over can offset capital gains in the next years.







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