topic Do you have an answer for bob3875? in Business & farm

Do you have an answer for bob3875?

bob3875 — Thu, 10 Dec 2020 18:06:15 GMT

If I sell stock with long term capital losses can I use the losses to offset short and long term capital gains?

Re: Do you have an answer for bob3875?

Bsch4477 — Thu, 10 Dec 2020 18:19:46 GMT

Losses on your investments are first used to offset capital gains of the same type. So, short-term losses are first deducted against short-term gains, and long-term losses are deducted against long-term gains. Net losses of either type can then be deducted against the other kind of gain.

Re: Do you have an answer for bob3875?

Anonymous_ — Thu, 10 Dec 2020 18:21:39 GMT

Did you miss the original answer to your question @bob3875?

Solved: I have both short term and long term capital gains... (intuit.com)

Re: Do you have an answer for bob3875?

bob3875 — Mon, 14 Dec 2020 21:31:22 GMT

Thank you for the answer. It raises another question. Is a capital loss carryover into subsequent years considered short or long term?

Re: Do you have an answer for bob3875?

bob3875 — Mon, 14 Dec 2020 21:32:41 GMT

Got it. Thanks.

Re: Do you have an answer for bob3875?

Bsch4477 — Mon, 14 Dec 2020 22:21:27 GMT

Any loss carried over retains it classification so it is possible to have both short and long term capital losses carried over.