I have a general U.S. tax question. In early 2000, I decided to be a "long-term investor" and bought a bunch of highly-touted tech stocks. I also made a pretty sizable investment in a stock I personally liked. The tech stocks crashed, but my personal pick did very well. 8 years later, my account is at about break-even with what I invested. If I liquidate everything so that I can start actively trading, what are the tax ramifications? Will my losses completely offset my gains, or is there a limit to what I can deduct as a loss?