LogFAQs > #949964998

Dat_Cracka_Jax posted...

I thought you could offset, or at least assumed so because I know people will sell at a loss intentionally for tax purposes at times.

You could be right. I sold (and withdrew) $800 from Robinhood recently as part of a car down payment. But i invested more that 800 over the course of the year. And some of that was traded for various gains and losses. I did not have to report the 800 since it's not additional income.

Like if i plant an apple tree and the apples are worth more than the sapling, then i don't need to pay taxes on the apples until i sell them.

...i think that's the opposite of my initial answer now that i think about it more. I am still learning so maybe ask someone else just to be sure

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