/biz/ - Business & Finance

>>53285849
>However you do end up getting a tax break if you've got actual losses the previous year (1500 single or 3000 married). So rather than burden you the brokerage account can actually make your tax owed less.
This is wrong, by the way. Please read up, Coke Boomer: https://www.investopedia.com/terms/c/capital-loss-carryover.asp

Losses are used to offset gains, with any excess carrying over to the next year. In addition to that, $3000 of ordinary income can also be offset, whether you're married or single. Or as the IRS tl;dr's:
>If your capital losses exceed your capital gains, the amount of the excess loss that you can claim to lower your income is the lesser of $3,000 ($1,500 if married filing separately) or your total net loss shown on line 16 of Schedule D (Form 1040).
-https://www.irs.gov/taxtopics/tc409