is a stock loss tax deductible?
2889
Using losses to reduce your gain When you report a loss, the amount is deducted from the gains you made in the same tax year. If your total taxable gain is still above the tax-free allowance, you can deduct unused losses from previous tax years.
666009
The idea is that you can't claim a tax loss if you, or someone affiliated with you, maintains control of the shares. The simplest solution is to wait 30 days before repurchasing the same stock.
494251
An ordinary loss is mostly fully deductible in the year of the loss, whereas capital loss is not. An ordinary loss will offset ordinary income and capital gains on a one-to-one basis. A capital loss is strictly limited to offsetting a capital gain and up to $3,000 of ordinary income.
1163192
Instead, stock issuance costs are treated as a reduction in the proceeds of the stock sale. They are considered the equivalent of selling the stock at a discount; thus, they do not create an expense that could give rise to a deduction.
305798
A deduction is allowed if an irrecoverable loss by theft occurs in the course of the trader's business.
1457534
If the UCC of a class has a positive balance at the end of the year, and you do not have any properties left in that class, this amount is a terminal loss. Unlike a capital loss, you can deduct the full amount of the terminal loss from your income in that year.
248276
So, short-term losses are first deducted against short-term gains, and long-term losses are deducted against long-term gains. ... Any excess net capital loss can be carried over to subsequent years to be deducted against capital gains and against up to $3,000 of other kinds of income.
443027
So, short-term losses are first deducted against short-term gains, and long-term losses are deducted against long-term gains. ... If you have an overall net capital loss for the year, you can deduct up to $3,000 of that loss against other kinds of income, including your salary and interest income.
118317
CGT doesn't apply to most depreciating assets you use solely for taxable purposes (such as business equipment or items in a rental property). Gains or losses made on these assets are treated as assessable income or claimed as deductions, unless the assets were part of a depreciation pool.
569069
In the course of managing your portfolio of stocks and other investments, you'll probably incur expenses that are tax-deductible. The tax laws allow you to write off certain investment-related expenses as itemized expenses on Schedule A — an attachment to IRS Form 1040.
97360
Unrealized losses are not tax deductible. To use the loss for tax purposes, the position must be sold, creating a realized loss. ... The federal tax code says that capital losses can be used to offset capital gains. If losses exceed gains, the taxpayer can take a $3,000 loss against other income.
555224
If you sell stock for more than you originally paid for it, then you may have to pay taxes on your profits, which are considered to be a form of income in the eyes of the IRS. Specifically, profits resulting from the sale of stock are known as capital gains and have their own unique tax implications.
1282176
Capital assets held for personal use that are sold at a loss generally do not need to be reported on your taxes. The loss is generally not deductible, as well. The gains you report are subject to income tax, but the rate of tax you'll pay depends on how long you hold the asset before selling.
335084
They cannot be used to reduce other income. If you have capital losses that exceed capital gains in the current year, you can (but don't have to) carry back the losses to any of the 3 preceding taxation years to be deducted against capital gains in those years. Capital losses can also be carried forward indefinitely.
156727
If you pay it to sell your house, it's not deductible although it is a part of the cost of selling your house. Commissions paid on investment properties get treated differently since the IRS lets you write off most of those properties' expenses.
487607
Tax Rules. Capital losses can be used as deductions on the investor's tax return, just as capital gains must be reported as income.
1239198
If you suffered damage to your home or personal property last year, you may be able to deduct these “casualty” losses on your 2017 federal income tax return. ... A casualty loss doesn't include losses from normal wear and tear or progressive deterioration from age or termite damage.