Real Estate Gains - Stock Losses - Offset?
I have some long-term capital gains in investment real estate, and even more significant long-term capital losses in stocks. Anyone know if these can be offset against each other when I file next year?
Yes.
Thanks very much, David.
I had the same thing this year. What happens is that the accountant wrote off 3,000 (Non IRA) dollars of stock losses last year and the remainder this year.
It seems that you can rollover the losses to the next year until you resolve the loss.
I don't know if it is the same way with a Stock gain.
The answer is YES!!!
If you have a gain on RE or a stock and a loss on on RE or a stock, the gains can first be used to offset losses so that you dont pay taxes on the gains.
If you HAD NO GAINS, you could only take $3,000 per year off of your taxable income until the loss was "recovered".
Takes 10 years for $30k in losses.
But on your next RE deal you can get that back.
Good Luck!