Hello!
I want best manage sizable carryover losses $280k+
I've had carryover losses from investments for a few years now and I work a W2 job for awhile. My W2 job withholds the most federal tax so I typically get a refund each year. Is it possible to use carryover loss toward paying W2 State/Federal taxes the following year for a W2 job? Or, can I change my W2 withholding the next year and take from the capital loss carryover to pay taxes this way?
I'm looking for other ways to maximize capital loss carryover (not just do 3k deduction every year) if I'm not planning to do investing anymore. (Yes I know I can write off gains on a home but also not planning the same). And 3k is 3k a year but rather have more up front if possible. (single and staying that way)
Thank you!
I want best manage sizable carryover losses $280k+
I've had carryover losses from investments for a few years now and I work a W2 job for awhile. My W2 job withholds the most federal tax so I typically get a refund each year. Is it possible to use carryover loss toward paying W2 State/Federal taxes the following year for a W2 job? Or, can I change my W2 withholding the next year and take from the capital loss carryover to pay taxes this way?
I'm looking for other ways to maximize capital loss carryover (not just do 3k deduction every year) if I'm not planning to do investing anymore. (Yes I know I can write off gains on a home but also not planning the same). And 3k is 3k a year but rather have more up front if possible. (single and staying that way)
Thank you!
Statistics: Posted by urzh — Sat Oct 26, 2024 9:19 pm — Replies 1 — Views 93