I apologize if this is a question that has been asked previously. My question is: I've seen it stated that capital losses of only up to $3000 can be used as a deduction against your regular income. Is the cutoff for capital losses the same $3000 value?For example:Let's say I sell some stock that I have held for many years for a net gain of $50000. I also sell some stock that I invested in during the last year and took a substantial loss on it, let's say $10000. Can that entire $10000 be applied as a loss against my gain.So, when I'm computing my taxes next April, is my capital gain $40000 (50k-10k) or $47000 (50k-3k)?Thanks for any help.-Platinum Nat
Best Of |
Favorites & Replies |
Start a New Board |
My Fool |
BATS data provided in real-time. NYSE, NASDAQ and NYSEMKT data delayed 15 minutes.
Real-Time prices provided by BATS. Market data provided by Interactive Data.
Company fundamental data provided by Morningstar. Earnings Estimates, Analyst Ra