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A comment on Software firms across US facing tax bills that threaten startup survival. Parent comment

Re:Software firms across US facing tax bills that threaten s... by pclmulqdq on Wednesday April 19, 2023 @10:03AM (#35628268)
The gains on taxes are uncapped, but the losses are capped per year. I think if you have a bigger loss, you can carry it forward even as an individual and apply it against future gains (or take another $3000 deduction). Apparently the limit is $3000 for married couples, I thought it was $3000 for individuals.
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Re:Software firms across US facing tax bills that threaten s... by pc86 on Wednesday April 19, 2023 @12:22PM (#35630097)
It's $3k period, for offsetting normal earned income. There is no cap on offsetting capital gains (for example, from selling stock). And you can do both, e.g. wipe out for example $20k in capital gains then another $3k in normal income.

I told a business at a $60k loss 4-5 years ago and between capital gains offsets and normal income deductions I still have about $30k in deductions left.

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