I heard that you can deduct your taxes by claiming losses in your stocks since it's considered a capital loss. My question is does anyone know if there is a max amount if money they deduct? Like do they only deduct losses up to $5,000?
ill spoonfeed you but try google in the future
https://www.irs.gov/uac/ten-important-facts-about-capital-gains-and-losses
If your capital losses exceed your capital gains, the excess can be deducted on your tax return and used to reduce other income, such as wages, up to an annual limit of $3,000, or $1,500 if you are married filing separately.
If your total net capital loss is more than the yearly limit on capital loss deductions, you can carry over the unused part to the next year and treat it as if you incurred it in that next year.
Totally false. You cannot deduct losses in stock.
>>1647795
Nah, I'd rather you do my bitch work. That's the entire reason why I'm here.
>>1647814
Enjoy being too lazy to get rich.
>>1647814
Savage
>>1647814
Spoken like a true businessman
>>1647795
Why does the IRS cover you in losses? Not that i'm bothered by it, just curious
>>1649832
they aren't covering you. You just don't owe taxes on money you lost.
>>1647799
This.
You can only deduct gains from future anticipated principal losses across the GDEH index for security securitization income revenues.
>>1649841
Why is that different from me pissing away cash on cash offs?
>>1649844
Scratch offs*
>>1649844
one is business because you enter it with a reasonable expectation of gain. the other is just an entertaining way to spend money.