Capital Gains What Is
March 23rd, 2006
Question: What if capital gains exceed Capital Loss for stocks?
For ex:
If you make $8K by selling a certain stock and then lose $3K in another stock.
Do you pay taxes on $5K? Or, since my capital losses do not exceed gains, I still have to pay taxes on the $8K gain?
Answer: You must report all the stock sales on schedule D (Form 1040). You will have net capital gains of $5k.
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