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Yes, you can still take the standard deduction. Stock losses are not a deduction, they are negative income and have a line on form 1040 to be reported on.
Form 1040 is the "long form". Capital gains and losses are reported on form 8949 and schedule D. Your net capital loss, goes to line 13 of form 1040, but no more than -$3000. By law, capital losses are limited to $3000/year. The other -$3000 will carry over to next year to be deducted or reduce capital gains on sch D.
Yes, you can still take the standard deduction. Stock losses are not a deduction, they are negative income and have a line on form 1040 to be reported on.
Form 1040 is the "long form". Capital gains and losses are reported on form 8949 and schedule D. Your net capital loss, goes to line 13 of form 1040, but no more than -$3000. By law, capital losses are limited to $3000/year. The other -$3000 will carry over to next year to be deducted or reduce capital gains on sch D.
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