Are stock losses tax deductible?

Answer According to the Internal Revenue Service, stock losses can offset income of up to $3000 in non-capital income, and are therefore deductible. However, the stock losses must be documented and verifi... Read More »

Top Q&A For: Are stock losses tax deductible

Are 401(k) losses tax deductible?

In most instances, 401k losses are not tax deductible. Due to the fact that income from 401K is tax deferred, losses cannot be used as deductions, according to the Internal Revenue Service.Source:I... Read More »

Are annuity losses tax deductible?

You can claim a deduction for the money lost on an annuity if the annuity has been completely surrendered or cashed in, but you can not deduct losses due to trades of an annuity. The total amount y... Read More »

Are Lottery Losses Tax Deductible?

Lottery losses are tax deductible for those who choose to itemize their deductions on their annual U.S. Individual Tax Return. Gambling losses may be claimed on Form 1040, Schedule A. However, lim... Read More »

Are pension plan losses tax deductible?

A loss on a person's pension plan is not tax deductible. When the pension plan was set up, the contributors got a tax deduction on their contributions. The withdrawals from the pension plan will ... Read More »