Total 3000
September 14th, 2009
Total 3000
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If you had a capital gain of $600, and a loss for the same year of $3000, would you have a total loss of $2400
Or can you only write off the amount gained if your loss is more than your gain?
If the loss is a capital loss, you would have a net capital loss of $2,400. You can deduct net capital losses against other income up to $3,000 per year, and carry forward any additional loss. So, in your situation you would have a $2,400 deduction.
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