Ordinary Capital Gains

[mitchden1]

Can I offset long term and/or short term losses against ordinary capital gains? Are ordinary capital gains treated the same as taxable interest?

[Bsch4477]

I assume by ordinary capital gains that you are referring capital gains distributions. They are treated like long term capital gains and not like interest. 

[mitchden1]

I bought Treasuries at a discount. At maturity, the "gain" to par is shown as ordinary capital gains. Can I offset capital losses against that "gain"? Also, I sold a treasury and there is some ordinary gain and short term gain. Can I offset capital losses against those gains? Thank you.

[Bsch4477 · Accepted solution]

Yes. Capital losses will reduce gains. When you enter your sales into TurboTax the program will do all of the calculations.