Deductions & carryovers
I know if I itemize deductions I will have more than standard deduction.
But I already have a $3000 carry over from 2007. On that return I also had
a $3000 stock loss on schedule D. Does it make any sense to itemize my
deductions this year?
Just as a matter of info, lets say I had a tax loss of $18K in 2007. I can claim a loss of $3K in 2007. Will the balance of $15K be carried over to 2008 being abled to deduct another $3K and the same for each sebsequent year over a six year period???