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Tax Question

Started by lr10021
over 17 years ago
Posts: 175
Member since: May 2007
Discussion about
I apologize in advance as this question has nothing to do with real estate directlty other than helping to save for a down payment, but I was hoping to get some top notch advice from you people as the intelligence level on this board is quite high... If you own a set of equities, and you have some short term gains of say about $100,000 and a long term loss of about $150,000, does the long term loss completely wipe away the tax liability on the short term gain?
Response by craberry
over 17 years ago
Posts: 104
Member since: Feb 2009

Yes you should owe no cap gain tax on your gain, until you have completely used up your tax loss of 150k. Once that is used up you must begin paying cap gain taxes.

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