1 No, $3k can go against income1.Do I have to have gains to deduct my losses?
2.If I sell a stock at a loss and that sale was my only stock/financial transaction that year can I just deduct $3k of the $10K loss off my taxable income?
3.I can’t deduct the entire $10 loss at one time right?
2 yes
3 not without gains
Also watch out for wash sales, which can be caused by reinvested dividends, which you might not think of as one of your transactions.
Statistics: Posted by rkhusky — Thu Sep 05, 2024 9:18 pm — Replies 1 — Views 63