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I think he's asking if your initial 1k becomes 200k and you lose 100k from the 200k, can you use that loss of 100k to offset before you have been taxed on the 1
by eliasmacpherson 13y ago
I think he's asking if your initial 1k becomes 200k and you lose 100k from the 200k, can you use that loss of 100k to offset before you have been taxed on the 199k gain.
- josephlord 13y agoThat is a possible reading although I'm not sure if it was the intended one. That would just be a 1k loss that you could carry forward. I am not a lawyer, accountant or American.
- exelius 13y agoNo; you can't lose more than your principal. So your initial 1k would be all you "lost". UNLESS you locked those gains in by paying taxes on them; though in that case you would just be re-collecting tax you already paid very slowly...
- deleted 13y ago[deleted]