Submitted By: Tony
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

Salvage value

The estimated value of an asset at the end of its useful life. Salvage value is ignored by ACRS and MACRS rules.

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