If I invested in several sports cards and was forced to sell all of them at a significant loss, can I claim these losses when I file my returns or not?

[excessivecelebrations]

I purchased over $50,000 in sports cards and in 2024 sold them at a loss.

[Vanessa A]

Yes, if you had a loss on a sale of your investment, you can use the loss to offset your other capital gains.  Any losses you have in excess of other capital gains can offset your other income by no more than $3,000.  However, if you have losses greater than that you can carry forward to future years the losses until they are used all up.