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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.
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.
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