How do I claim my short term investment loss in Pennsylvania?

[seeknay03]

If I can't claim a loss can I claim it against future gains or does Pennsylvania not tax short term investment gains??

[re2boys]

PA does not distinguish between short or long term capital gains/losses.  PA also does not allow the carry of a loss from one year to another.  PA also does not allow you to offset other income with a capital loss. (Can't offset wages with capital loss).

So you report it, but if the total of all gains & losses is a negative, the loss does not effect your taxes.

However, if the total of all capital gains & losses is a positive (gain), it is taxable by PA.