Can I deduct long call losses on UVXY if ...

Discussion in 'Taxes and Accounting' started by dcwriter2, Feb 25, 2021.

  1. they were used as a hedge on a short position of UVXY, which I have not closed?
  2. In general you don't get to "deduct" such losses.... just use them to offset other gains. Each trade stands upon its own feet. Each loser goes into the "loss column" by itself regardless of how you think you applied it.... netting out the winners and losers at the end of the year.