Message Font: Serif | Sans-Serif
No. of Recommendations: 0
My question is simple. Can you use a Long term loss against a short term gain?

Reason I am asking:
I have some long term gains and long term losses for this year. I want to sell some stocks I currently hold and receive a short term gain on that sell. I will then turn around and repurchase the stock the same day I just sold for a gain. This way my long term loss gives me a tax break on a short term gain rather than a long term gain.

Thanks in advance,

Print the post  


In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.