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I have accumulated losses of above $200,000 in stocks from the last 10 years. I have been writing off $3000 every year and say the carryover is $200,000.

Now i am seeing some profits in my account upwards of $50,000.

Can i offset this $50,000 against the $200,000 in the tax return (and not pay any taxes on it) and carry forward the $150,000 loss ?

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  • State taxes sometimes follow Federal carryover, and sometimes don't.
    – user662852
    Jan 21, 2016 at 12:34

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Yes, of course. The $3000 is the limit against other income. If you have any gains, here, $50,000, they are offset by your carried losses, and still, $3000 more is taken as in past years, against other income.

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