Oh , that's good! I really had myself going... (I have mental probs...) I am doing the Snoopy dance here in comparison to what my "pal" told me. Singing..."A whole new world...!")
That's right Jimmy. 3k is the maximum loss you can take on a capitol loss per year. But say you have 10k loss carried over from a previous year. Then this year you have a gain of 12k. You can use that entire loss of 10k to off set the 12k gain and only have to report 2k. So you can take a larger loss as long as there is a gain that offsets it and you don't go over a 3k loss per year.
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