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Can I offset income from side hustle (sole prop) with short- and long-term losses?
I have recently started a sole prop that brought me some income (<$3k) in the last quarter of 2024, on top of my salary from my regular job. I was wondering if I need to pay quarterly tax estimate before January 15, 2025 to avoid a penalty or can I offset this additional income from the side hustle with the short-and long-term losses (realized stock/future/forex losses to be specific) from 2024? Thanks in advance for your advice!
‎November 13, 2024
10:38 AM