Tax Questions

[MrBankRoll]

Tax/capital gain question. Need confirmation/second opinion.

I was just reminded by my accountant that I can sell a bunch of my junk stocks to offset capital gains on the sale of one of our homes.

She says dollar for dollar. Not the normal $3,000 dollar limit. Originally she told us we'd have to pay somewhere between 24-28,000 in capital gains last spring when we sold the house.

If I can scrape together 24-28,000 in losses on my shit stocks, does that really cancel out what we would have to pay in capital gains? In essence, break even?

Not sure if I have that much in losses on my POS losers, but I know there's plenty of 'em.

I thought I heard of that before but have never been in a position of huge capital gains to experience it.