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Can I offset capital gains from the sale of my house with capital loss from the sale of stocks?

I am getting divorced and we are selling our primary residence. After the $500,000 exemption, I estimate we will have to pay tax on about $300,000 worth of capital gains from the sale. However, I am carrying forward approximately $400,000 in losses from trading stocks (a combination of short- and long-term losses). Can I use those losses to cancel out the taxable gains on the sale of the house?

Real Estate, Stocks, Taxes
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April 2018


   Short answer is yes you can. 

Kimberly J. Howard, CFP

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