Message Font: Serif | Sans-Serif
No. of Recommendations: 0
I have a question concerning a sale of stock at a loss to be used as a deduction. Hopefully this hasn't been asked in the recent past (I took a cursory look over some of the recent posts and have not seen it yet), but if it has, please forgive the repetition.

I sold some stock during the last week of December to use as a loss. But an interesting thing came to mind: I don't have any capital gains. Last year when I sold stock at a loss, I had mutual fund capital gains which were offset by the loss. However, this year, I just realized that my funds haven't declared any capital gains.

My question, therefore, is this: will my loss help me in any way? Is a loss useful in offsetting dividend income and money market income, both of which I have? And, just in case I come across this scenario in the future, let me ask this: what if I sold tax at a loss but didn't have any capital gains or any dividend/interest income...what if I just had ordinary income? Is the loss useful in offsetting some of the ordinary income? I thank you for reading.
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.