This was very helpful. Thanks

Great video and advice, you cleared one doubt quite clearly. Can you please advise on a short scenario as follows: I am carrying over losses from one year to another and using the losses against my earned income, $3000 per year. If I miss claiming the carried over loss in one year, can I continue by picking up in the following year, or put simply, can I skip a year (forget) of loss carryover and re-continue next year? Many thanks.

So . . . lets say I carryover $10,000 in capital loses from 2023. This year, I net $15,000 in capital gains. Do I subtract the entire $10K loss from 2023 - or just $3000?

Question: are you using direct index method to do tax loss harvesting?

Hi, thank you for your video. Let's say I have lost about 150k in options trading so far this year and hoping to do well next year for example let's say I made 150k, can I then deduct 150k from this year's losses to offset my gains in next year's tax filing? Or should I sell stocks that I have capital gains to offset both gains and losses this year? I am hoping if I carry 150k losses next year I can claim more than 3k if I have a substantial capital gain.

Really well explained

Thank you for the videos!

Thank you !!

Great explanation!

does that apply to losses in crypto as well?

Great upload

great explanation

Great video. Would a gain from selling physical precious metals be considered a capital gain that tax loss harvesting could be used to offset?

Does capital losses offset dividends and interests?

lets say i have 3 long term stocks sock a gains 3,000 stock b gains 4,000 stock c losses 8,000 how is this calculated? 7k in gains and 8k in losses =-1,000 or have to to pay 7k capital gains at 15% (1,050) 8k-1050=5950 in total loss then carry forward if cant use?

Nice video. I wish you addressed how to apply the tax loss to short term capital gains instead of long term capital gains. If that is possible? What if your single and total income is less than $50K a year? Do you need tax loss harvesting?

Do I have to sell my shares for a loss or is the loss percentage on the brokerage statement sufficient to qualify for tax loss harvesting

Hi! I have a question. Can I buy a stock at current price, and then sell the same stock for a loss in different accounts? Because I want to keep that stocks. Thank you.

I made $50k in profit on stocks in 2021. I had to pay taxes on the $50k gains. If I lose $30k on stock sale this year, can I carry back the losses of $30k to last year? Personal tax return and not a business.

hey so i have a question. my uncle is in usa and he owns 3 hospitals and so he has to pay quite a lot of taxes recently i spoke to him and he said he bought stocks worth 80,000$ 20 years ago and now they are worth around 1300$ can we sell the stock and do a tax reduction and cut the taxes on the hospitals he owns please reply that would mean alot

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For the first time in many years since i last entered a $3000 carryover loss, I see where i have to ADD it this time to my taxable income on Line 7, so says Schedule D. Where do i see on either the Federal or state NY forms the benefit of that deduction? I recall there use to be an ADD and a Subtract line for such a function, but do not see such on these 2022 forms.

Does tax lost harvest matter when the money is in a Roth IRA?

3000.00 is not much. There is no loss carry back. One could easily outlive their large loss carry forward, while being stuck with big tax bills. Someone should do a video on how to manage in the same year, which is the only time losses and gains in numbers over 3k can be offset to avoid big tax bill. Nobody does that for some reason.