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  2. Do I Have to Report Capital Losses on My Taxes? - AOL

    www.aol.com/finance/capital-losses-lower-income...

    If your combined capital losses exceed both your combined capital gains and the $3,000 deduction cap, you can then roll those losses forward. This means that in future tax years, you can deduct ...

  3. How to deduct stock losses from your taxes - AOL

    www.aol.com/finance/deduct-stock-losses-taxes...

    The IRS allows you to deduct from your taxable income a capital loss, for example, from a stock or other investment that has lost money. Here are the ground rules: An investment loss has to be ...

  4. What You Need to Know About Tax-Loss Harvesting and Capital ...

    www.aol.com/finance/know-tax-loss-harvesting...

    The IRS allows you to deduct all of your capital losses against capital gains for the year. If capital losses exceed capital gains, you can deduct an additional $3,000 (or $1,500 if married filing ...

  5. Capital loss - Wikipedia

    en.wikipedia.org/wiki/Capital_loss

    The IRS states that "If your capital losses exceed your capital gains, the excess can be deducted on your tax return." [citation needed] Limits on such deductions apply.For individuals, a net loss can be claimed as a tax deduction against ordinary income, up to $3,000 per year ($1,500 in the case of a married individual filing separately).

  6. How Will Long-Term Capital Losses Affect My Taxes? - AOL

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    For example, $101,000 of capital losses and $100,000 of capital gains result in a $1,000 net loss. While your capital losses might be in the thousands, you can only use $3,000 to mitigate your ...

  7. Internal Revenue Code section 61 - Wikipedia

    en.wikipedia.org/wiki/Internal_Revenue_Code...

    One form of income listed in the Code, that of "discharge of indebtedness" is not often considered income by lay persons. If, however, a taxpayer owes a debt to any other party, and that debt is forgiven without being fully repaid, the taxpayer must as a general rule declare the forgiven amount as income, and must pay tax on it. [6]

  8. Cancellation-of-debt income - Wikipedia

    en.wikipedia.org/wiki/Cancellation-of-debt_income

    Capital loss carryover – Any capital loss carryover to the taxable year of the discharge; Basis reduction – The basis of the property of the taxpayer; Passive activity loss and credit carryovers – Any passive activity loss or credit carryover under 26 U.S.C. §469(b) from the taxable year of the discharge

  9. This Tax Break Could Be Good News For Your Money - AOL

    www.aol.com/finance/stock-market-losses-tax...

    For one, the $3,000 maximum deduction may not be enough to fully offset a large capital gain in a given year. It also can sometimes take many years to use all the losses from a year or years that ...