Do we get tax refund for loss made on investment?

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Do we get tax refund for loss made on investment?

2007-02-02 05:46:27 · 2 answers · asked by hhbasile 4 in Business & Finance ➔ Taxes ➔ United States

2 answers

You can only deduct a net capital loss of $3,000 per year. If your capital loss is more than that, and you have no other capital gains to offset it, then your capital loss deduction is $3,000 and the excess is carried over to future years.

2007-02-02 05:55:11 · answer #1 · answered by jseah114 6 · 1⤊ 0⤋

can deduct it from your earnings ...But, of course..if you lose money on a business..they wont give you a tax refund...you have to give to them first before they give you the the refund.....

2007-02-02 14:05:03 · answer #2 · answered by frankysnewcolorpainting 2 · 0⤊ 0⤋