Skip to main content
Message Font: Serif | Sans-Serif
 
No. of Recommendations: 3
Can the whole amount of the losses be used against the gain in the same year? Or just $3000 of it? And if I had long term losses that I am carrying forward from previous years, can more than $3000 of those be carried forward?

Capital losses (including carry forward losses) are used first against capital gains. If there are any left over, then you use $3000 against ordinary income. If there are still some left over, then they carry forward.

AJ
Print the post  

Announcements

Disclaimer:
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.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
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.