Cap gain & other loses

Derf

I was wondering if the below info is correct as per the writer , especially the $3K to offset other ordinary income ? I was thinking write off $2k & carry forward the remainder $4K

Another thing you should know is that you don't need to use up your entire capital loss for the tax year in which you take it. Say you take a $6,000 loss this year, but you only have $2,000 in capital gains to negate. From there, you're left with $4,000, of which $3,000 can be used to offset ordinary income. But you don't lose the remaining $1,000 tax benefit. Instead, you can carry it with you into 2021 and use it then.

Merry Christmas to All, Derf

bee

This link seems a little dated, but it seems to answer some of your questions. I would verify any changes for 2020.

https://finance.zacks.com/can-shortterm-capital-loss-tax-writeoff-against-ordinary-gains-3687.html

Derf

Thanks for buzzing by bee.
Stay safe, Derf