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Question

Offsetting loss from sale of stock

Forum|Forum|2 years ago
December 28, 2023
1 reply
0 views

I will have a significant long-term loss from the sale of a stock in 2023. I know this loss will offset any capital gain from sale of other stocks and I assume it doesn't matter if the gain from other stocks is short or long term, is that correct?

Also, is there any other source of income that can be used to offset the loss such as futures contract income, dividend income, rental income or any other kind of income?

I am already carrying forward a large capital loss from prior year and don't need to add to it.

Employee

Your 2023 loss will be added to your carry over loss from previous years and be used to offset capital gains first and then up to $3,000 of regular income. The rest will carried over to subsequent years.