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Submitted By: Tony
Answered: May 27, 2014 8:30 am
Answered: May 27, 2014 8:30 am
Can my short-term gain on a real estate transaction be offset by a long-term capital loss carryforward?
Yes. While there are certain ordering rules for applying capital losses against capital gains, ultimately, long-term capital losses can offset any short-term gains.
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Tax Glossary
Annuity
An annual payment of money by a company or individual to a person called the annuitant. Payment is for a fixed period or the life of the annuitant. Tax consequences depend on the type of contract and funding.
