4 ms·
> $3500 in realized losses > $1500 in deductions Do you mean $1500 in credit? why wouldn't all $3500 be deductions? > Well worth the ~$250 in fees I paid th
by gohrt 11y ago
> $3500 in realized losses
> $1500 in deductions
Do you mean $1500 in credit? why wouldn't all $3500 be deductions?
> Well worth the ~$250 in fees I paid them this year.
Will this work every year, even in bull markets?
- cushychicken 11y ago> Do you mean $1500 in credit? why wouldn't all $3500 be deductions? Frankly, I'm not sure. I did it through Turbotax a week ago and didn't look closely at it. > Will this work every year, even in bull year? As long as you have a security that you can sell at a loss with a comparable security to replace it - yes.
- cbhl 11y ago> If your capital losses exceed your capital gains, the excess can be deducted on your tax return and used to reduce other income, such as wages, up to an annual limit of $3,000, or $1,500 if you are married filing separately. https://www.irs.gov/uac/Ten-Important-Facts-About-Capital-Gains-and-Losses https://www.irs.gov/uac/Ten-Important-Facts-About-Capital-Ga...