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Re: Chartmaster post# 53508

Sunday, 03/03/2024 7:39:46 PM

Sunday, March 03, 2024 7:39:46 PM

Post# of 75138
Short term capital gains are taxed as ordinary income, meaning if you have a job other than posting on iHub, those short term gains will be added to your other income.

And FYI: Long term losses can only be offset by long term gains, short term losses can offset both short and long term gains.



Except that if you have an excess of long or short term losses beyond your gains in those categories, the excess can be applied to the other category of gains to further offset them.

I swear I’ll never use the phrase “you can’t make this stuff up” ever again after being on the OTC. Apparently you can.