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New Member

Stock bond or mutual fund sales

Can I deduct a monetary loss on my mutual fund?
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New Member

Stock bond or mutual fund sales

If you sell securities at a loss ("capital loss"), then the loss will first offset any capital gains you might have.  If there's still any loss remaining, you get to use a max of $3000 on your current year tax return to offset ordinary income.  It will show up as a negative 3000 on line 13 of the 1040 and be subtracted from your other sources of income.

This process repeats itself each year until the loss is exhausted.

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