Question

Can i deduct stock losses against capital gains and dividends

Forum|Forum|6 years ago
December 23, 2019
2 replies
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TurboTax Online

Employee

The loss on a stock sale an be deducted from a gain on a stock sale but not from dividends. Up to a net loss of $3,000 can be deducted from your income with the rest of the net loss carried over from year to year until it is used up.

T

TomD8

Employee

You must first use your stock losses to offset capital gains. Then, if you have any excess capital loss, up to $3,000 of it may be used per year to offset ordinary taxable income, which may include dividends.

**Answers are correct to the best of my ability but do not constitute tax or legal advice.