Maria had capital losses last year of $10,000.She will be able to deduct how much from her other taxable income in that year?

Question

Quizplus · Accepted Answer

The maximum amount of capital losses that can be deducted from other taxable income in a given tax year is $3,000. Therefore, Maria can only deduct up to $3,000 from her other taxable income, leaving the remaining $7,000 in capital losses to be carried forward to future tax years.

Maria Had Capital Losses Last Year of $10,000