Capital gains personal

Forum|Forum|5 years ago
July 15, 2021
1 reply
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I have net long term capital gain losses from last tax year(stock sales) that I carryovered to this year. Can I offset my SHORT term capital gains(also stock sales) for this coming tax year?

Best answer by Anonymous_

@Dukezx wrote:

I have net long term capital gain losses from last tax year(stock sales) that I carryovered to this year. Can I offset my SHORT term capital gains(also stock sales) for this coming tax year?

Yes, you can use your long-term capital loss carryover to offset your short-term capital gains (up to the amount of those losses plus $3,000, which can be applied to offset other types of income.

See https://www.irs.gov/taxtopics/tc409

Anonymous_Answer

Level 15

@Dukezx wrote:

I have net long term capital gain losses from last tax year(stock sales) that I carryovered to this year. Can I offset my SHORT term capital gains(also stock sales) for this coming tax year?

Yes, you can use your long-term capital loss carryover to offset your short-term capital gains (up to the amount of those losses plus $3,000, which can be applied to offset other types of income.

See https://www.irs.gov/taxtopics/tc409