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I have a question I can't find an answer to so I'm turning to all you Fools out there for a little help.

My question is this: I have a carryover loss from last year since I sold a stock in '98 at a loss in excess of the $3000 allowed. I want to dump another loser (CPU if you must know - doesn't look like it's getting better any time soon) and I'm trying to decide whether I should do it before the end of the year. I know I'm getting to this a bit late. If I sell before the end of the year can I take the loss and add my carryover to it to reduce my AGI or am I limited to the one loss for the year? What if the total of the two losses (the carryover and the new loss) exceed $3K? Do I only get to deduct the $3K (therefore having another carryover for the next year) or since they're two different losses can the total excce $3K? Any help is appreciated. And if you can point me to the right place to find the answer I'd appreciate that, too. I looked through the FAQs, etc. and couldn't find any info on this specific scenario. Thanks and Happy New Year to all Fools out there.

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