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Accounting for stock loss on 2019 taxes when sold on January 2, 2020
Posted on 1/2/20 at 10:55 pm
Posted on 1/2/20 at 10:55 pm
So i screwed up the sale of a stock that had a negative return since purchase. It was sold to offset gains realized in 2019. Am I allowed to use it to offset 2019 capital gains even though it was sold in 2020?
This post was edited on 1/2/20 at 10:56 pm
5
Posted on 1/2/20 at 11:15 pm to C
Ahh nope, don’t think so.
But they carry forward so you will not “lose” them if you don’t have enough gains to even out this year
But they carry forward so you will not “lose” them if you don’t have enough gains to even out this year
Posted on 1/3/20 at 8:15 am to C
Looks like you better hope for some gains to offset on 2020 taxes.
Posted on 1/3/20 at 11:09 am to C
When did you put in the trade? Did you put it in on 12/31 and there was some issue due to markets that caused it not to go through until the 2nd?
Or did you not put it in until the 2nd?
Or did you not put it in until the 2nd?
Posted on 1/3/20 at 11:14 am to eng08
quote:
But they carry forward so you will not “lose” them if you don’t have enough gains to even out this year
Yes, and if he doesn’t have enough gains, the loss will offset up to $3,000 of ordinary income made in 2020. Basically if gains - losses is negative then take that amount from income (up to $3,000). If it’s more than $3k, then whatever is left carries forward to 2021. Unfortunately, I know this through experience. Lol.
Posted on 1/3/20 at 11:16 am to C
quote:
Am I allowed to use it to offset 2019 capital gains even though it was sold in 2020?
So you want to file activity that happened in 2020 on your 2019 taxes?
Posted on 1/3/20 at 12:14 pm to LSUFanHouston
quote:
When did you put in the trade?
Placed the trade order in November. Just never hit the sale price until January.
Posted on 1/3/20 at 12:16 pm to C
Nah. It will be reflected on your 2020 1099.
Posted on 1/3/20 at 2:02 pm to C
quote:
Placed the trade order in November. Just never hit the sale price until January.
So a 2020 trade, then. Yeah, that's going on 2020.
Posted on 1/3/20 at 5:12 pm to C
quote:
Placed the trade order in November. Just never hit the sale price until January.
Lol no
2020
Posted on 1/3/20 at 8:03 pm to C
quote:
. It was sold to offset gains realized in 2019. Am I allowed to use it to offset 2019 capital gains even though it was sold in 2020?
Missed it.
By that much.
Posted on 1/5/20 at 9:08 pm to HailToTheChiz
quote:
sold on January 2, 2020
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