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takeone
New Member

Can i deduct stock losses against capital gains and dividends

 
2 Replies
Bsch4477
Level 15

Can i deduct stock losses against capital gains and dividends

The loss on a stock sale an be deducted from a gain on a stock sale but not from dividends.  Up to a net loss of $3,000 can be deducted from your income with the rest of the net loss carried over from year to year until it is used up.

TomD8
Level 15

Can i deduct stock losses against capital gains and dividends

You must first use your stock losses to offset capital gains.  Then, if you have any excess capital loss, up to $3,000 of it may be used per year to offset ordinary taxable income, which may include dividends.

**Answers are correct to the best of my ability but do not constitute tax or legal advice.
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