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Yes, an individual can use ordinary losses to offset capital gains. Specifically, if an individual has an ordinary loss from a business or other trade, it can be deducted against ordinary income, which may include capital gains. However, capital losses can only offset capital gains. If the ordinary loss exceeds capital gains, the excess can typically be used to offset ordinary income, subject to certain limitations.
What else can I help you with?
Can an individual ordinary loss offset a capital gain?
Yes.
Can a C-corporation use its ordinary loss to offset capital gain?
A c corps capital gain is taxed as ordinary income so why couldn't you use an NOL to offset the gain?
Can you use capital loss to offset dividend 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.
Can you offset Capital Gain Dividend with capital loss?
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.
Do short-term losses from a stock sale offset short-term capital gains for tax purposes?
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.
Can an individual ordinary loss offset a capital gain?
Yes.
Can a C-corporation use its ordinary loss to offset capital gain?
A c corps capital gain is taxed as ordinary income so why couldn't you use an NOL to offset the gain?
Can a C corporation use its ordinary loss to offset capital gain?
A c corps capital gain is taxed as ordinary income so why couldn't you use an NOL to offset the gain?
Can you use capital loss to offset dividend 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.
Can you offset Capital Gain Dividend with capital loss?
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.
Do short-term losses from a stock sale offset short-term capital gains for tax purposes?
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.
Can you offset a collectible gain with capital losses?
Yes
Can i offset Capital Gain Dividend with capital loss?
If you are talking about a Long Term Capital Gain dividend from a mutual fund, the answer is yes.
Can Net operating loss offset to Capital Gain?
No, net operating losses (NOLs) generally cannot offset capital gains. NOLs primarily offset ordinary income, while capital gains are treated separately for tax purposes. However, if a taxpayer has both NOLs and capital gains, they can use the NOLs to reduce their overall taxable income, but not directly against the capital gains themselves. It's advisable to consult a tax professional for specific situations.
Can you carry over capital gain losses to future tax years?
Yes, you can carry over capital gain losses to future tax years to offset capital gains in those years.
Does precious metal miners pay capital gain tax?
They would have to pay ordinary income tax on gains from mining. This would not qualify as a capital gain.
Is there capital gain tax on repossessed property?
Any cancellaton of debt is ordinary income.
