holding a stock fr a year

Discussion in 'Trading' started by qwert, Feb 8, 2008.

  1. qwert


    if i buy a stock and hold it for a full year and sell it for a loss, is the loss 100% tax deductable, if i owe more than the standard deduction. thanks, long live the caspian sea pipeline routes
  2. yes up to a 3000 max loss per year.
  3. from my understanding it is deducted off your income (with a max write off of 3000 per year and any more losses carried to the next year)
    so say you make $30,000 a year salary

    you lose 3000 in the stock market that year

    you only get taxed for $27,000 that year

    if I am wrong - someone correct me