4 ms·
I got the $1500 number from the OP, not sure where it came from. I didn't realize losses could be carried forward like that though, good to know!
by dandelany 11y ago
I got the $1500 number from the OP, not sure where it came from. I didn't realize losses could be carried forward like that though, good to know!
- tsmith 11y agoI am guessing OP was able to decrease his/her taxes owed by $1500 (e.g. by deducting marginal income by $3000 at a combined state and federal marginal tax rate of ~50%). *Edit: or, as cbhl points out below, OP is married filing separately, in which case the deduction limit is $1500/year (multiplied by marginal tax rate to yield actual tax savings).