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What if you buy high and sell low. Can you write off the losses for tax purposes?
by geoka9 13y ago
What if you buy high and sell low. Can you write off the losses for tax purposes?
- breischl 13y agoYes, it's called a capital loss. A loss can be used to offset an equal amount of capital gain, or a small amount (up to $1500/year) of earned income. http://www.irs.gov/uac/Ten-Important-Facts-About-Capital-Gains-and-Losses http://www.irs.gov/uac/Ten-Important-Facts-About-Capital-Gai...