Does anyone here know...

Can you offset wages with an investment loss, or can you only offset investment gains with investment losses?

Thanks.

quote:

Originally posted by pianojuggler:
Does anyone here know...

Can you offset wages with an investment loss, or can you only offset investment gains with investment losses?

Thanks.

Somewhat over simplified answer:
A married couple can only deduct $3000 of long-term capital losses from their ordinary/wage income. It’s $1500 for a single person. The rest of the loss can only be used against capital gains, with some carry back and carry forward provisions.

There are many many weird details and the rules on this subject, but that is the general answer.

Cool. Thank you.

I haven’t even looked at my non-qualified accounts in the las six months. I may or may not have a loss to realize.