Thanks for watching! This is the 2nd video in the #CapitalGainsAndLosses series. We have 1 more planned on this, covering the #CapitalGainsPreference for individuals. Please like, share, and let us know what you think as we try to grow the channel!
That's great to hear! This is the 2nd of 3 videos in the Capital Gains & Losses series. The 3rd one, on the capital gains preference for individuals, should come out next week. Best of luck on your final!
Why is this still limited to $3,000. It's been 45 years now since that amount was set. We've had enough inflation since then to make this amount over $13,000. How about we get with the bleeping times already?
Note that we can't provide legal or tax advice. Basically what you're asking is what happens if you start the year with a $10K STCL. That loss goes into the 2x2 grid just like any capital gain or loss you have during the year.
![FNAF vs TF2 - Episode 2 [SFM]](http://i.ytimg.com/vi/z5b3V2-VLb0/mqdefault.jpg)
Thanks for watching! This is the 2nd video in the #CapitalGainsAndLosses series. We have 1 more planned on this, covering the #CapitalGainsPreference for individuals. Please like, share, and let us know what you think as we try to grow the channel!
I have a federal income tax final next week, and I was just not getting this! The video was really helpful, thanks!
That's great to hear! This is the 2nd of 3 videos in the Capital Gains & Losses series. The 3rd one, on the capital gains preference for individuals, should come out next week. Best of luck on your final!
Why is this still limited to $3,000. It's been 45 years now since that amount was set. We've had enough inflation since then to make this amount over $13,000. How about we get with the bleeping times already?
Wow, amen to that!
Wish you would take the example to show how the losses are applied to next year's gains.
That's a good topic for another video!
What If i carry forward -$10,000 short-term capital losses. Would I be able to offset next year $10,000 short-term capital gains?
Note that we can't provide legal or tax advice. Basically what you're asking is what happens if you start the year with a $10K STCL. That loss goes into the 2x2 grid just like any capital gain or loss you have during the year.
If I have a $20,000 long term capital gain and $20,000 long term capital loss, do these cancel out and I do not have a taxable amount?
Complicated explanation,