Schedule A itemized deductions losses of the 1040 tax form would be entered on page 2 line 40a of the 1040 tax form.
They losses would not have anything to do with the offsetting of capital gain and loss on the schedule D of the 1040 tax form.
No you cannot apply for non-capital losses against dividend income. Capital losses only offset capital gains up to 3K a year capital losses may be used against ordinary income.
ANSWER No capital loss can only be used to reduce any capital gain, and even in then there are rules. You can not use capital gain to offset against ordinary income. NB: Personal use capital loss can not be offset against any capital gain, losses on collectibles can only be offset against other collectibles capital gain and all "other" capital loss e.g. dividends, shares, real estate can be offset against "other" capital gain.
No, dividends, while taxed similarly now, are not capital gains. Capital losses only offset capital gains, EXCEPT - up to 3K a year of unused capital losses may be applied against ordinary income...which because of the rate differential, is really a nice advantage.
A capital gain and a dividend are two different things completely. You can offset a Capital Gain with Capital Losses, but you cannot offset dividends with capital losses. They are different items and are reported on different forms.
A CDN corporation can not apply non capital losses against dividend income it can only be used to reduce capital gain. There are rules and regulations that go along with this as well. You can not use capital gain to offset normal income.
No you cannot apply for non-capital losses against dividend income. Capital losses only offset capital gains up to 3K a year capital losses may be used against ordinary income.
ANSWER No capital loss can only be used to reduce any capital gain, and even in then there are rules. You can not use capital gain to offset against ordinary income. NB: Personal use capital loss can not be offset against any capital gain, losses on collectibles can only be offset against other collectibles capital gain and all "other" capital loss e.g. dividends, shares, real estate can be offset against "other" capital gain.
No, dividends, while taxed similarly now, are not capital gains. Capital losses only offset capital gains, EXCEPT - up to 3K a year of unused capital losses may be applied against ordinary income...which because of the rate differential, is really a nice advantage.
Not against earnings (from your income tax), but you can offset losses against future capital gains and thereby reduce your capital gains tax (UK tax law).
A capital gain and a dividend are two different things completely. You can offset a Capital Gain with Capital Losses, but you cannot offset dividends with capital losses. They are different items and are reported on different forms.
Yes
A CDN corporation can not apply non capital losses against dividend income it can only be used to reduce capital gain. There are rules and regulations that go along with this as well. You can not use capital gain to offset normal income.
can long term gains be offset by short term losses
Short offset shorts first, then they offset longs. Your better to have them offset short, as short is taxed at ordinary rate and long at special lower rate. A stock sale is a capital gain/loss transaction.
Short-term capital losses for individuals are limited to a $3,000 deduction per year (for AGI), they have an indefinite carry forward to future's year netting.
It would make sense for people seeking capital gains to offset previous year losses.
If this is a question about income tax losses go to www.irs.gov and use the search box for type LOSSES Some business losses offset other income. Some rental income can offset other income. CAPITAL GAINS AND LOSSES Sale of assets offset each other and after that is done any remaining loss can use to offset ordinary income up to the 3000 maximum per year on a MFJ income tax form and any reaming loss after that can be carried forward into future years in the same way until the loss is used up.