Personal Finance & Money Asked on January 6, 2022
In USA there is normally about 12k deduction for a single person filling taxes. If I have 1k losses in stocks can I take the 12k default deduction + 1k? I know there is a 3k limit to stock losses but I am not sure if I can combine the default 12k and the stock loss.
I think I have 2 options:
Could someone explain?
Losses are not part of itemized deductions. You can take the stock losses regardless of whether you itemize.
Answered by JTP - Apologise to Monica on January 6, 2022
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