Is the sale of stock ordinary income or capital gain?
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Tax Professional Answers
Harold Goedde
capital gain. If held more than one year it is long-term. If held one year or less ,it is short-term. Capital losses offset capital gains first and then ordinary income up to $3,000. Any unused losses can be carried forward to offset capital gains and ordinary income in future years. Losses can be carried forward indefinitely.
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456 weeks ago