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August 12, 2024
Question

Capital Gains

  • August 12, 2024
  • 1 reply
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Lets say I have a business on a farm. The business generates $300k in losses every year. Can I offset capital gains from selling a stock or withdraws out of an IRA with these losses?

1 reply

M-MTax
August 12, 2024

IF you're in the business of farming and have an NOL you can use that to offset all other types of income.

Pub 536