Question

Do all realized gains increase AGI? What would happen to my AGI if I realize a $5k and offset it with a $5k loss?

Forum|Forum|6 years ago
June 7, 2019
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TurboTax Premier Online

Critter

Employee

NET gains raise AGI so you can offset a gain with a loss.

A

Anonymous

net capital loss of x will offset a net capital gain of x

some types of ordinary loss of x may, may not, or more than fully offset a capital gain of x

a passive loss of x may not be fully deductible while the gain would be

an ordinary loss of x could more than fully offset . equal gain (as far as taxes) because long term gains could be taxed at 0% while the schedule C could reduce self-employment taxes and ordinary income taxes

P

parkercoelhoAuthor

My question is specifically about AGI.If I I sell one stock with a loss of -$4k and one stock with a gain of $1k, my net loss would be -$3k. However, how would this affect my AGI for the tax year? (I am not asking about my ordinary income or anything other than AGI specifically)