by 
Drublic
ANSWERS: 4
-
Yes, but your losses may be limited. Generally, you're able to deduct a fixed amount of net capital loss per year (used to be $3,000, but it might have gone up), and the rest carries forward (so if you've got a total loss of 9k, you can deduct it over 3 years). Of course, losses are offset against gains, etc.
-
Your losses are offset against any gains, dollar for dollar if those two events happened in the same year. If you have excessive losses (more lossess than gains), then you can only deduct $3000 of losses per year. Any leftover would be carried over to the next year, limited to $3k per year.
-
Yes, you have to fully realize the loss. and the max you can deduct is 15k over 5 years.
-
I also depends on whether they are short term or long term. See schedule D.
RELATED QUESTIONS
Copyright 2023, Wired Ivy, LLC