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Home business expenses to offset capital gains
Posted on 6/27/21 at 3:07 pm
Posted on 6/27/21 at 3:07 pm
Looking for a way to offset capital gains in my taxable brokerage account that I use for swing plays. I understand that since this is 1099 income you can form an LLC to run your withdrawals through it and use 708 tax benefits to offset the capital gains (eg, home office deduction, possibly vehicle and other expenses, etc).
Can anyone explain it to my like I’m five or direct me to some literature on the subject?
Can anyone explain it to my like I’m five or direct me to some literature on the subject?
Posted on 6/27/21 at 3:40 pm to Jwodie
quote:
Looking for a way to offset capital gains in my taxable brokerage account
Sell something else as a capital loss.
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