Short Term Capital Gains and Long Term Capital Losses


P

PeterOut

(Under US tax law) can you offset short term capital gains
with long term capital losses.

Thanks,
Peter.
 
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R

Rich Carreiro

PeterOut said:
(Under US tax law) can you offset short term capital gains
with long term capital losses.
Yes.

The netting rules are:
* First offset ST gains with ST losses.
* Then offset LT gains with LT losses.
* Then if one category has a loss and the
the other a gain, offset the gain in one
category with the loss in the other.
 
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B

Bill

(e-mail address removed) (PeterOut) posted:
(Under US tax law) can you offset short term
capital gains with long term capital losses.
Yes. The Schedule D computations combine the net results of
short- and long-term sections in order to determine the
resulting amount to be entered on line 13, Form 1040
(capital gains).

Bill
 
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H

Herb Smith

PeterOut said:
(Under US tax law) can you offset short term capital gains
with long term capital losses.
Yes, see Schedule D and instructions. If your capital losses
are more than your gains you can also offset up to $3,000
against ordinary income. Any further excess gets carried
over to the next and future years, and is used in the same
manner.
 
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LoTax

PeterOut said:
(Under US tax law) can you offset short term capital gains
with long term capital losses.
I think that under US tax law we *have to* offset these two
things. Matter of fact, all capital gains and capital
losses, LT and ST, are netted against each other under US
tax law, sorta like automatically. See how Schedule D
works...
 
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