Series 65: 6.1.1.1.1 Using Losses To Offset Gains

Taken from our Series 65 Online Guide

6.1.1.1.1  Using Losses to Offset Gains

Losses can be used to offset gains on a tax return. The taxpayer must first offset short-term gains with short-term losses and long-term gains with long-term losses. If there are any long-term or short-term gains remaining, these can be offset with any remaining losses. If there are any losses remaining after all gains have been offset, up to $3,000 of the losses can be deducted from a person’s taxable

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