Sentences with phrase «against ordinary income so»

The non-professional can deduct up to $ 25K in real estate loss against ordinary income so long as their adjusted gross income is under $ 100K.

Not exact matches

If you have more losses than gains, the IRS says you can take another $ 3,000 against ordinary income, like salaries and pensions and so forth.

And to the extent you can combine rebalancing with any tax - related moves, such as selling off shares of poor performers to generate realized capital losses that can be applied against realized capital gains or even ordinary income, so much the better.

Second, in your example it just so happens that the amount of the capital loss on one lot is exactly the maximum amount that can be deducted against ordinary income.

They know that you can't write off the entire $ 10,000 in short - term losses against your ordinary income, so they have to conjure up «other realized gains» of $ 7,000 out of nowhere.