Capital gains vs short term gains

Discussion in 'Tax' started by malibu.ron@verizon.net, Jun 11, 2005.

  1. Guest

    Can stock losses from short term gains be used to offset
    long term gains.
     
    , Jun 11, 2005
    #1
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  2. JoeTaxpayer Guest

    Of course you'd first offset short term gains with those
    (short term) losses, but then if there are no further short
    term gains you apply the losses against long term gains.

    Gerneral rule is you cancel like gains first short gains
    against short losses, long gains against long losses.

    Pub 550 explains in greater detail.

    JOE
     
    JoeTaxpayer, Jun 11, 2005
    #2
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