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taxed585
New Member

Which gains get offset first by losses, long term or short term?

This is for stock gains.  I had both long term and short term gains.  I had losses also but not enough to offset the gains.  So do the losses offset the short term gains first or the long term gains.
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Which gains get offset first by losses, long term or short term?

short term losses offset short term gains

long term losses offset long term gains

if one type is net gain and the other net losses they are netted. 

if the net is a gain  (loss) the type depends on the type that had more gains (loses) than the other type

if both types are losses, short term is used first.

why not just print out schedule d and follow the line instructions to see how it works.

https://www.irs.gov/pub/irs-pdf/f1040sd.pdf 

 

 

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