Quote:
Originally Posted by Buehler445
I THINK Unless you are filing it under a schedule C and paying SE tax on gain, your limited to 3,000 loss.
Or if it is hedging for a business.
I can’t remember all the rules but I THINK that is right.
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You can use 3k to offset income each year but you can carry over the remainder of your losses to future years to offset gains or use against loss again.
Good to hear about the auditors. Mistakes may have been made in the past
