 |
|
| Browse | Ask | Answer | Search | Join/Login |
|
|
||||
|
Short versus long term capital gains
I have an investment account that I'd like to reposition some of my holdings from. For tax purposes, can I offset a long term capital gain with a short term capital loss or do I have to match long term gains with long term losses, etc?
Secondly, if I have a long term or short term loss, and I have no offsetting gains in the same tax year, what, if any of the respective losses can I carry over into subsequent tax years? Many Thanks. :) |
||||
|
||||
|
The sales are reported on schedule D where short term gains and loss are reported separately and long term gains and loss are reported separately. Then you will have net short term gain or loss and long term gain or loss.
Then the figures for short term and long terms add to give net capital gain or loss. If you have net capital loss, you can adjust only $3,000 in a year against other income, and rest is carry forward. |
||||
| Question Tools | Search this Question |
Add your answer here.
Check out some similar questions!
Back in 2000 and 2001, I had short term capital losses that exceeded the 3000 dollar limit. Each year, I've been able to deduct 3000 dollars since my short term gains have been minimal. I still haven't used up all my 2000 and 2001 short term losses. I had some long term gains in 2000, but...
How do I properly account for Long Term and Short Term Capital Gains from investments (stocks and bonds)? I am unsure of which account to use and the proper treatment on the financial statements. We (the Company) have not been involved in investing much until this year. Feel free to assume I know...
Hello; I have held a stock for some. I sold some of that stock through an on-line account and also purchased the same stock back at lower prices and sold again. Does it matter whether I have held the same stock for years but the sale/repurchase made it look like a short-term gain? I hope...
I used TaxAct to do my 2005 taxes. During 2005 I sold stock that I held for more than 2 years. When I reviewed the TaxAct print out, there was no discount on the gains from the stock sale. When I sold stock in the past (long term), only a portion of the gains was recorded as income. Is long term...
"Short-term stock gains are taxed as ordinary income. Therefore, the nominal tax rate will be whatever tax bracket you are in. More explicitly, it will be taxed at the federal tax rate (bracket) as determined by your taxable (not gross) income line on your federal tax return." If all of my income...
View more questions Search
|
