Maybe, but then let me capture my long and short term gains together to offset gains.
It's crazy that if I have a $5k loss in year one, I can't completely offset it in year 2 if I have a 5k gain. Now I can only use 3k going forward forever.
It's crazy that if I have a $5k loss in year one, I can't completely offset it in year 2 if I have a 5k gain. Now I can only use 3k going forward forever.
Wait did they change the carry forward rules?
At least the way it used to work was:
* Year 1 - 50k loss, 3k offset of ordinary income 47k carry forward
* Year 2 - 60k gain, 47k zeroed out from last year's carry forward, 13k is taxed
Is that not still the case?