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E
etong123
March 10, 2023
Question

If I made money trading futures, can I offset those gains with stock losses from previous years using the tax loss harvesting rule?

  • March 10, 2023
  • 1 reply
  • 0 views
If I made $2400 trading futures in year 2022, and lost $10,000 trading stocks since 2018, can I offset some losses with gains?

1 reply

G
GeorgeM777
March 10, 2023

Yes.  Your gains from futures are initially reported on Form 6781, Gains and Losses From Section 1256 Contracts and Straddles.  Thereafter, the gain is transferred to line 11 of Schedule D, Capital Gains and Losses or Form 8949 where it is netted against your stock losses which includes any carryover losses from prior years. 

 

@etong123 

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