Can i take off mutual fund,stock losses?
If you deal in the shares at a loss, the loss is deductible. However, you must differentiate between short-term and long-term losses, and apply them against any gains surrounded by each category. When this is done, you may or may not enjoy a net loss. Beyond the offset gains, if any, you may subtract up to $3000 of annual losses against "regular" income. Any excess is carried over to future years.
up to 3K per year per person
You can only subtract them against capital gain you have made... and you can with the sole purpose deduct $3000 a year against your gain. For example, if you have $21,000 contained by losses, it will take you seven years to claim that total. Your levy advisor can give you adjectives the details.
Does anyone believe that an IBM stock...
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Answer:You can use capital losses to thwart capital gain. If your losses exceed your gains, you can use the losses to work against a maximum of $3,000 of ordinary income. If your losses are more than $3,000 more than your gain, you can carry the losses over to adjectives years for a maximum of 5 years.
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