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hbritt
New Member

Can a capital loss carryover be used to off set a short term capital gain?

 
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Fern
New Member

Can a capital loss carryover be used to off set a short term capital gain?

Yes, you can offset a short-term term capital gain with a long-term capital loss carryover.

However, you need to offset any long-term loss carryover against any long-term gains before you can offset any short-term capital gains.


https://www.irs.gov/uac/Ten-Important-Facts-About-Capital-Gains-and-Losses

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2 Replies
Fern
New Member

Can a capital loss carryover be used to off set a short term capital gain?

Yes, you can offset a short-term term capital gain with a long-term capital loss carryover.

However, you need to offset any long-term loss carryover against any long-term gains before you can offset any short-term capital gains.


https://www.irs.gov/uac/Ten-Important-Facts-About-Capital-Gains-and-Losses

Can a capital loss carryover be used to off set a short term capital gain?

assuming if I have $50000 carryover capital loss, this year (in 2016) I have short term capital gain of $70,000 gains, can I write off all of $50,000 capital loss?  If not, what is the best way to off set $50,000?  Thanks
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