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Adding stock loses to taxes

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:

  1. Take the 12k deduction
  2. Have losses over 12k (not stocks) then I can add 1k stock loss.

Could someone explain?

One Answer

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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