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Level 1
Nov 16, 2022 6:50 PM UTC
Question

Stock losses

How much stock losses can I claim in a tax year? Is it similar to gambling losses where uou can only deduct an amount equal to the amount you won?

    1 reply

    Level 15
    Nov 16, 2022 6:55 PM UTC

    Your losses are subtracted from your gains. If you have a net loss up to $3,000 is deducted from your income. Any remaining loss is carried over to subsequent years until it is used up.