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Get your taxes done using TurboTax
@J295 I'm not sure if I understand the question. Are you asking whether you should actually report the LTCG (and the offsetting loss) to the IRS? Even though they net to 0, definitely report them. The LTCG is income and not reporting income is frowned on. Also, the tax rates for LTCG and passive losses can be different, so it may not actually net to 0.
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**Note also, I'm not a Tax Preparer/CPA. Just a volunteer, seasoned, TurboTax user.
Use any advice accordingly!
**Note also, I'm not a Tax Preparer/CPA. Just a volunteer, seasoned, TurboTax user.
Use any advice accordingly!
March 16, 2021
2:22 PM