Seeing the situation today, it's getting pretty likely that a lot of people will end up with a loss by the year's end, so I thought a post on it would be appropriate.
Do I reduce it from my yearly income and pay income tax as usual? Or is there something else I can do?
I tried to read about it, there is talk of carrying it over, but I don't know what for, and I couldn't understand whether "loss" meant capital losses or total loss, as in your income was less than the money you lost that year.
by waytooslim