topic Will I still owe taxes if I end the calendar year with a net loss on my brokerage account? I’ve made profitable trades and losing trades but my losses far exceed the gain in Investors & landlords https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/will-i-still-owe-taxes-if-i-end-the-calendar-year-with-a-net-loss-on-my-brokerage-account-i-ve-made/01/1750511#M57662 My losses far exceed my gains for the year. All of the positions were held less than a year as well. Fri, 04 Dec 2020 21:15:39 GMT whiteheadp1 2020-12-04T21:15:39Z Will I still owe taxes if I end the calendar year with a net loss on my brokerage account? I’ve made profitable trades and losing trades but my losses far exceed the gain https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/will-i-still-owe-taxes-if-i-end-the-calendar-year-with-a-net-loss-on-my-brokerage-account-i-ve-made/01/1750511#M57662 My losses far exceed my gains for the year. All of the positions were held less than a year as well. Fri, 04 Dec 2020 21:15:39 GMT https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/will-i-still-owe-taxes-if-i-end-the-calendar-year-with-a-net-loss-on-my-brokerage-account-i-ve-made/01/1750511#M57662 whiteheadp1 2020-12-04T21:15:39Z Re: Will I still owe taxes if I end the calendar year with a net loss on my brokerage account? I’ve made profitable trades and losing trades but my losses far exceed the gain https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/re-will-i-still-owe-taxes-if-i-end-the-calendar-year-with-a-net-loss-on-my-brokerage-account-i-ve/01/1750551#M57666 <P>On the Sch D all your losses are netted against the gains&nbsp; so if you have more losses you will have a capital loss to report on the 1040 and you are allowed to claim up to $3000 of loss against other income ... any loss you cannot use this year it carried forward and used next year.&nbsp;</P> Fri, 04 Dec 2020 22:08:16 GMT https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/re-will-i-still-owe-taxes-if-i-end-the-calendar-year-with-a-net-loss-on-my-brokerage-account-i-ve/01/1750551#M57666 Critter-3 2020-12-04T22:08:16Z Re: Will I still owe taxes if I end the calendar year with a net loss on my brokerage account? I’ve made profitable trades and losing trades but my losses far exceed the gain https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/re-will-i-still-owe-taxes-if-i-end-the-calendar-year-with-a-net-loss-on-my-brokerage-account-i-ve/01/1750659#M57674 <P>In other words, you can't use stock market losses to wipe out your income tax.&nbsp;</P> Sat, 05 Dec 2020 01:49:27 GMT https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/re-will-i-still-owe-taxes-if-i-end-the-calendar-year-with-a-net-loss-on-my-brokerage-account-i-ve/01/1750659#M57674 fanfare 2020-12-05T01:49:27Z