Capital Gains and Losses - Best for taxes?

Discussion in 'Business, Careers & Education' started by jakeyt, Mar 3, 2013.

  1. jakeyt

    jakeyt Senior member

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    So I have some big stock losses in 2010 (haven't sold yet). Roughly a loss of $15K-$20K. However, this year, I have quite a bit of gains being about $25K in gains now (short term) in another company. Neither has been sold but does it make sense to sell all of my losses and gains so they offset each other? I read that I can only deduct $3K in losses though?
     
  2. Trompe le Monde

    Trompe le Monde Senior member

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    deduction from capital loss is limited on per year basis, but can be carried over to following years
     
  3. tesseract

    tesseract Senior member

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    limited to 3000 per year deduction with the rest carried over into following years. However, if you sell all of the capital gains and losses i believe you net them which will actually put you in the green, the excess gain over loss being taxed at your maximum tax rate, especially since these are STCG.
     
    Last edited: Mar 11, 2013

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