2007-11-09 10:15:21 · 4 answers · asked by george e 1 in Business & Finance ➔ Taxes ➔ United States
Gains and losses are only deductible when you sell them, and then they fall under long term or short term gain/loss.
2007-11-09 10:18:36 · answer #1 · answered by Jen 5 · 0⤊ 0⤋
When you sell, you report gains and losses on a schedule D. If your net loss is $3000 or less, you can deduct it against other income that year. Any additional net loss amount (the amount over $3000) can be carried over to next year's taxes.
2007-11-09 21:49:04 · answer #2 · answered by Judy 7 · 1⤊ 0⤋
Recognized stock losses are deductible on Schedule D. You are limited to a $3,000 net capital loss loss per year, the remainder would get carried forward to future years.
2007-11-09 18:28:18 · answer #3 · answered by Anonymous · 3⤊ 0⤋
www.irs.gov
2007-11-09 18:18:33 · answer #4 · answered by npk 7 · 0⤊ 3⤋