@JillS56 Yes, my friend and I understand that he has losses that he can get a deduction how you said, but what I’m trying to say is that, my friend went to H&R Block and the person helping him didn’t say anything about a deduction, and claimed that the IRS will see his PROCEED as income and will get taxed on his proceed, I just want to make sure that the person who is helping out is wrong because the IRS doesn’t tax you on your PROCEED just if you have capital gains and if you have losses like my friend, you get a deduction.
