I know you can write off up to $3,000 each year on a capital loss (such as a loss on the sale of stocks), but I can’t recall for how many years you can do this.
Is there a limit, or can you keep taking off the $3K until the thing is all used up.
I use a computer tax program and e-file, so they don’t send me the instruction booklet any more where I could look it up.
Every year you match up gains vs. losses and if you have losses over $3,000, you carry over the excess to the next year. That process can continue indefinitely.