Capital Loss Carryover?
If I lost 48k from 04 - 08 in stock trades and then made 46k in 09, would I be able to deduct all my remaining loss or would I only be limited to 3k per year? Previously I was only allowed to deduct 3k per year but I had not made gains.
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Yes.
The schedule D adds the prior loss to this year's gains and it's the new total that is the issue.
Your capital loss carryforward is apparently $33000, so 46000 - 33000 = 13,000 net gain.