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Megan C
Megan C , Certified Public Accountant (CPA)
Category: Finance
Satisfied Customers: 16539
Experience:  Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level
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Hi Megan, I have a tax question. Can someone offset

Resolved Question:

Hi Megan,

I have a tax question. Can someone offset long and/or short term capital gains with a business loss?

Thanks,

Jim
Submitted: 2 years ago.
Category: Finance
Expert:  Megan C replied 2 years ago.

Megan C :

Thank you for your question, and thanks for using JustAnswer.com

Megan C :

Yes, a business loss would offset your other income. You will still show a capital gain on your tax return, but that amount would be offset by the business loss.

Customer:

Great Megan! Thanks for your quick response.

Megan C :

You're welcome

Megan C :

If you would, please take a moment to rate my response as "excellent" so that I may receive credit for assisting you today

Megan C and other Finance Specialists are ready to help you
Expert:  Megan C replied 2 years ago.
Thanks, Jim for requesting me! It was a pleasure working with you today! Come back and see me any time. Thanks also for the generous bonus!
Customer: replied 2 years ago.


Very welcome Megan! I'm glad to have you as a resource for my business!


 


Best,


 


Jim