So I read your Answer as a “no” I cannot offset capital gains on stock as it’s not an active conduct of trade or business.
However since I retired at 55 (3 years ago) my sole income is buying and selling stock, the business I bought for for my wife in August. Could it then be interpreted to mean my active trade or business has been profiting off of stock sales?
I suppose the rub is in that IRS statement you provided on the comments, is it implied that the loss or 179 wrote off is solely related to the active trade or business or could it be any active trade or business? For example if I had business entity A with a loss and business entity B with a gain, can A’s loss offset B’s gain?
Thanks for your help
