Dave and Jane file a joint return.They sell a capital asset at a $150,000 loss.Even though they have no capital gains,$6,000 of the loss can still be deducted in the current year.Individual taxpayers (including married filing jointly) may deduct up to $3,000 of net capital losses against ordinary income in a given year.

Question

Quizplus · Accepted Answer

For a joint return, the maximum net capital loss that can be deducted against ordinary income is $3,000, not $6,000.

Dave and Jane File a Joint Return