answersLogoWhite

0

No, in fact it reduces any capital loss and even ordinary income (within limits)

User Avatar

Wiki User

16y ago

What else can I help you with?

Related Questions

Do you pay capital gain tax on stocks in loss?

You would NOT have a capital gain tax to pay when you have a loss on the sale of stock. You WILL HAVE to report the transaction on the schedule D of the 1040 tax form and up to 3000 of loss for the year will be used to offset up to 3000 of ordinary income for the year any amount of the remaining loss will then be carried over to the next years until the loss is completely used up.


Do people have to pay income tax on realized investments after they pay capital gains tax?

No. You will not pay income tax in addition to capital gains tax if I understand you correctly. However, capital gains tax for an individual is reported and paid on your 1040 income tax return. The only difference is that the rate for capital gains taxes is lower than the regular income tax levels.


Is it possible to pay capital gains tax early?

Yes, it is possible to pay capital gains tax early by voluntarily reporting and paying the tax before the deadline.


Do you pay taxes on a house buyout?

You pay tax on the profit from a sale. And get a tax benefit from a loss.


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.


Do you pay capital gains tax on your first house?

Yes it is always possible that may be required to pay some capital gains tax on the sale of your first house.


Do you pay tax on sale of stock at a loss in your IRA?

No, transactions in an IRA are tax exempt. (besides, you never have to pay taxes on a loss, it's only gains that are taxed).


Do you pay capital gains on inheretence?

Yes it is possible that you could have to pay some capital gains tax on the sale of some inherited capital assets.


Do you pay capital gains on dividends?

No, you do not pay capital gains tax on dividends. Dividends are typically taxed at a different rate than capital gains.


Can you reinvest your capital gains?

Sure...but you pay tax on them anyway.


Do you have to pay capital gains tax in PA?

I think so...


Do you pay taxes on hazard insurance pay out?

You mean a casualty insurance payout? The amount that is for the loss of property is not taxable - as long as you didn't (and don't) claim a casualty loss on it for tax. (The payment means you have no tax loss).