How do you net long-term and short-term losses and gains for income tax purposes? | Programming, .NET, Silverlight & More

How do you net long-term and short-term losses and gains for income tax purposes?

I am doing a homework problem and I have short-term capital losses of 19,000 long-term capital losses of 5000 and a short-term capital gain of 20,000. Obviously I net them to a loss of 4,000. But would that be a short-term loss or a long-term loss? And then of course it would be limited to a 3,000 capital loss for the year for taxes.

Print off a schedule D at irs.gov and follow it. That would be a net $4000 long term loss, and you’d carry over $1000 LT loss to the following year.

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  1. Judy Says:
    October 23rd, 2009 at 5:43 pm

    Print off a schedule D at irs.gov and follow it. That would be a net $4000 long term loss, and you’d carry over $1000 LT loss to the following year.
    References :

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