offset of stock loss against real estate gain

Can I use both my short and long term stock capital losses to offset a real estate gain.

Reply to
researcher
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Maybe.

Not enough information here.

Is this your main home? Did you own it and live in it as your main home at least 2 of the five years before sale?

If so, you might be able to exclude the first $250,000 (500,000 if filing MFJ) of gain. o

If personal use property and you have a reportable gain, you can net the gain with your other schedule D losses.

On the other hand is this rental real estate or real estate held for commercial use? If so the sale is probably reported on Form 4797 and your capital gains in excess of capital losses can use up only 3000 per year against most form 4797 gains.

Reply to
Arthur Kamlet

Yes you can, even if some of the real estate gain is section 1250 gain (normally subject to a 25% tax rate).

Reply to
Tom Healy CPA

section 1250 gain

That would be a *maximum* 25% rate, but not higher than your regular rate.

-Mark Bole

Reply to
Mark Bole

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