What happens when you report a loss on your income tax?

What happens when you report a loss on your income tax?
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1 Answer

Answer :

I believe a loss offsets your income you make, but that is only if you sell your stocks (or whatever you have in your portfolio). If you hang on to it then I don’t think you can claim a loss. So if you sell, then you can and your taxes will be lower…not for certain, but my brother does it all the time so he doesn’t have to give the gov so much money.
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