Question on long term/short term gains and long term losses

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Topic Author
nmanieri
Posts: 40
Joined: Wed May 22, 2013 7:39 pm

Question on long term/short term gains and long term losses

Post by nmanieri »

What happens if I sell multiple funds and in total have $2000 in long-term losses, $1000 short-term gains, and $10,000 long term-gains? Would the $2000 in losses cancel the short term gains and $1000 of long-term gains so I only have $9000 long-term gains? Or would I have $1000 short term gains and $8000 long-term gains? Or some other situation? Thank you in advance for clarifying this for me!
mptness
Posts: 179
Joined: Sun Jun 03, 2012 3:54 pm

Re: Question on long term/short term gains and long term losses

Post by mptness »

nmanieri wrote:Or would I have $1000 short term gains and $8000 long-term gains?
This sounds right to me.
earlyout
Posts: 1441
Joined: Tue Feb 20, 2007 5:24 pm

Re: Question on long term/short term gains and long term losses

Post by earlyout »

Download a Schedule D from the IRS website, enter your numbers, and see the result. Long term loss only offsets short term gain after all long term gain has been offset.
Topic Author
nmanieri
Posts: 40
Joined: Wed May 22, 2013 7:39 pm

Re: Question on long term/short term gains and long term losses

Post by nmanieri »

Thanks for both of your replies, that's what I thought it would be so thank you for confirming!
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