Question about selling at a loss. I have a couple stocks that I bought at the market peak back in 2021. They’ve dropped over 90% and I’ve decided that I’m done holding the bag haha.
From my understanding, I’m able to negate up to $3,000 in taxes from either capital gains from other stocks or from federal income tax. So let’s say I realize (sell) a loss of $3,000 worth of a stock, and don’t realize any capital gains for the entire year, does that $3,000 come back in the form of tax refunds? Do I need to do anything specific when filing taxes? Thanks
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