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dragon52

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dragon52

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Re: LETSWIN2020 post# 96087

Friday, 12/27/2019 12:13:21 PM

Friday, December 27, 2019 12:13:21 PM

Post# of 144983
I am not a tax counselor or financial advisor but

been doing this for years... lol

Normally you cannot take a loss if you did not sell what you bought...

it will have to show up as a loss. The taxable deduction is only $3000.00 Total for all your losses less gains. Let's say that you claim $10,000.00 loss, it will take 4 years to write it off at $3000.00 total a year. If you gained more than zero, that would count as a gain and is taxable.

Please consult your tax advisor.

Dragon52

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