And here's the thing: you can actually sell that position, if it's outside of retirement, create a tax loss, and then that tax loss goes on your tax return, and it
nets against all future
capital gains.
If you sell an investment at a
capital loss, you can claim that loss
against other
capital gains for the year; or if you have none, you can carry the loss back up to three years to offset other
net capital gains reported on your previous income tax returns; or you can carry forward the loss to claim
against future
capital gains.
Capital losses can be used to offset capital gains, and up to $ 3,000 of any net capital loss can be deducted against other income, such as your salary or bank account in
Capital losses can be used to offset
capital gains, and up to $ 3,000 of any net capital loss can be deducted against other income, such as your salary or bank account in
capital gains, and up to $ 3,000 of any
net capital loss can be deducted against other income, such as your salary or bank account in
capital loss can be deducted
against other income, such as your salary or bank account interest.