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If I have $10K in short-term gains, can I sell a security with a $10K long-term loss at use that to offset the short-term gain?
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November 15, 2019
11:33 AM
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Get your taxes done using TurboTax
See this TurboTax Tax-Tip - https://turbotax.intuit.com/tax-tips/investments-and-taxes/capital-gains-and-losses/L7GF1ouP8
Losses on your investments are first used to offset capital gains of the same type. So short-term losses are first deducted against short-term gains, and long-term losses are deducted against long-term gains. Net losses of either type can then be deducted against the other kind of gain.
November 15, 2019
11:46 AM
1,010 Views
Anonymous
Not applicable
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Get your taxes done using TurboTax
the short answer is yes. you can offset net short gains with net long term loses.
November 15, 2019
12:48 PM
991 Views