If I understand correctly, a maximum of $3000 of capital losses can be used to offset ordinary income within any one fiscal year, and further losses can be carried over to subsequent years. I have a gain on the sale of real estate for which taxes cannot be deferred to future years. I also have a few bow-wow stocks I'd like to use to offset the tax liability. Does the $3000 limit for losses apply only to stocks, or is that total capital losses? For instance, could one offset a $10,000 capital gain on property with a $10,000 loss on stock? (No, those figures are not real...LOL.)
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