I brought some stock in Dec. of last year and sold it at a loss in Jan. Now how would I write this off on my taxes 2010?

I brought some stock in Dec. Of last year and sold it at a loss in Jan. Now how would I write this off on my taxes 2010 Asked by Schatzilein 8 months ago Similar questions: brought stock Dec year sold loss Jan write taxes 2010 Business > Taxes.

Similar questions: brought stock Dec year sold loss Jan write taxes 2010.

It is unclear what you mean by "last year":If you purchased the stock in December 2009 and sold it in January 2010, then you claim it on Schedule D of your 2010 1040. If you purchased the stock in December, 2010 and sold it in January, 2011, then you cannot claim anything for 2010 but must wait to file your 2011 return. Either way, the maximum loss you can deduct in any tax year is $3,000.

Any excess loss can be carried forward. More details at:irs.gov/pub/irs-pdf/i1040sd.pdf pdf.

Thanks JuzMe for your great help! Schatzilein 8 months ago .

It should also be pointed out that you can not just deduct the total loss if you have any gains. If you have long term capital gains in excess of long term capital losses, you have what is called a net capital gain. If you have no capital gains, you can write off a maximum of $3,000 of loss each year.

But, if you had, for example, $4,000 of gain and $2,000 of losses, you have a net capital gain of $2,000. You do not write off the loss. If the example above is reversed and you have $4,000 of loss and $2,000 of gain, you can write off $2,000.

Thanks for your help! Schatzilein 8 months ago .

" "I overcontributed to my Roth, how do I file my taxes this year?" "If I only earned $9600 in 2010 do I have to file taxes..?" "TAXES.

I HAD STOCK IN LEHMAN BROTHERS WHEN THEY WENT DOWN WHAT DO I DO FOR MY 2008 TAXES.

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