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Employee
January 22, 2024
Solved

Ordinary Capital Gains

  • January 22, 2024
  • 1 reply
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Can I offset long term and/or short term losses against ordinary capital gains? Are ordinary capital gains treated the same as taxable interest?

Best answer by Bsch4477

Yes. Capital losses will reduce gains. When you enter your sales into TurboTax the program will do all of the calculations. 

1 reply

Employee
January 22, 2024

I assume by ordinary capital gains that you are referring capital gains distributions. They are treated like long term capital gains and not like interest. 

mitchden1Author
Employee
January 22, 2024

I bought Treasuries at a discount. At maturity, the "gain" to par is shown as ordinary capital gains. Can I offset capital losses against that "gain"? Also, I sold a treasury and there is some ordinary gain and short term gain. Can I offset capital losses against those gains? Thank you.

Bsch4477Answer
Employee
January 22, 2024

Yes. Capital losses will reduce gains. When you enter your sales into TurboTax the program will do all of the calculations.