If I incur a net loss on investments for tax year 2008, can I write this loss against other income?

Question

If not, can I carry it forward against gains next year?

Answer 1

Up to 3k then carry it forwad until used up.

Answer 2

yes you can.....you can offset it with other capital gains or against your regular income.....but if you don't have an income for that year there are ways to offset it but its kinda complicated

Answer 3

If it's a realized loss, meaning that you actually sold the investment, yes you can apply $3000 against other income, and carry the rest forward to next year.

Answer 4

Capital losses can be adjusted against capital gains. If you have net capital loss, then use your total net loss to reduce your income by up to $3,000. You can carryover the unused part to the next year and treat it as if you had incurred in that next year.