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You can claim capital losses a tax deduction up to $3000 per year and it carries over to subsequent years. So this isn’t entirely true.
by Our_Benefactors 4y ago
You can claim capital losses a tax deduction up to $3000 per year and it carries over to subsequent years. So this isn’t entirely true.
- leoqa 4y agoDoes that imply an effective limit of $150k or so? I've definitely had capital gains tax higher than that.
- medvezhenok 4y agoI believe that it's 3000 per year to offset other income (i.e. labor income). You can use capital losses to offset other capital gains without limit.
- JamesianP 4y agoAnd either way it's only not taxing you for money you didn't get. They never share your pain in the same sense that they share your success.
- bombcar 4y agoYou cannot claim capital loss on a house sale.