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And there's no guarantee that the commercial preparer would do it any better than you anyway.
When I graduated college back in the '80s, I got a free tax prep from H&R Block. I had to point out additional deductions to the person doing my return, so I have always done my taxes myself ever since. Admittedly, they probably gave me one of their newer people since it was a free return, but it did not leave a good impression with me.
When I graduated college back in the '80s, I got a free tax prep from H&R Block. I had to point out additional deductions to the person doing my return, so I have always done my taxes myself ever since. Admittedly, they probably gave me one of their newer people since it was a free return, but it did not leave a good impression with me.
Around 1987 I took a tax preparation course from H&R Block and those completing the course could apply to work for H&R Block. I didn't apply but anyone hired from the course really weren't tax experts. I'm sure they could handle the majority of simple returns of someone who had wages from a job and common types of deductions. I use their software and it does a good job but I did find a bug last year when it carried forward a capital loss that had been fully deducted in the prior year.
Around 1987 I took a tax preparation course from H&R Block and those completing the course could apply to work for H&R Block. I didn't apply but anyone hired from the course really weren't tax experts. I'm sure they could handle the majority of simple returns of someone who had wages from a job and common types of deductions. I use their software and it does a good job but I did find a bug last year when it carried forward a capital loss that had been fully deducted in the prior year.
To the best of my recollection, capital losses can be used to offset capital gains AND up to $2,000 of Ordinary Income. If your capital losses exceed your capital gains by more than $2,000 then the excess over $2,000 is carried forward to the next year and the year after (if necessary) until it is all used up.
This may or may not have been your situation. If it did carry forward a capital loss that had been ENTIRELY used up, then it was obviously a mistake and I'm glad you caught it.
to the best of my recollection, capital losses can be used to offset capital gains and up to $2,000 of ordinary income. If your capital losses exceed your capital gains by more than $2,000 then the excess over $2,000 is carried forward to the next year and the year after (if necessary) until it is all used up.
$3,000.
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