SIE: 5.3.3. Using Losses To Offset Gains

5.3.3.  Using Losses to Offset Gains

Losses can be used to offset gains on a tax return. The taxpayer must first offset short-term gains with short-term losses and long-term gains with long-term losses. If there are any long- or short-term gains remaining, these can be offset with any remaining losses. If there are any losses remaining after all gains have been offset, up to $3,000 of the losses can be deducted from a perso