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re: Did I do something wrong? - Tax treatment of stocks sold at various times
Posted on 7/14/14 at 10:27 am to LSUFanHouston
Posted on 7/14/14 at 10:27 am to LSUFanHouston
quote:
Accross time, you have short term losses that exceed your short term gains, in relation to the total 1,000 shares originally bought. But you have to compute, and report, gain or loss as of the day you sold the stock.
Yes. Just needing to understand carry forward or back losses/gains.
1
Posted on 7/14/14 at 10:40 am to C
When it comes to selling good ole fashioned publically traded securities,
1) Report gains and losses as they cocur.
2) If capital losses for year exceed capital gains, you can offset $3,000 of the excesslosses ($1,500 if married filing seperate) against your other income.
3) If you have more than $3,000 ($1,500 if married filing seperate) of excess losses in a year, the amounts above this threshhold carry forward to the next year and are added to the gains/losses for the next year.
1) Report gains and losses as they cocur.
2) If capital losses for year exceed capital gains, you can offset $3,000 of the excesslosses ($1,500 if married filing seperate) against your other income.
3) If you have more than $3,000 ($1,500 if married filing seperate) of excess losses in a year, the amounts above this threshhold carry forward to the next year and are added to the gains/losses for the next year.
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