Share this content
0
518

Parent's capital loss to offset my capital gain?

Can I use a family member's capital loss to offset my capital gains?

Due to stock market investment losses, my parent currently has a capital loss carryover of approximately $1 million.  On the other hand I currently own stock with an unrealized stock market gain of approximately $300,000.  If I gifted that stock to my parent, would he then be able to sell that gifted stock and use his $1 million capital loss to completely offset the capital gain from the sale and subsequently not pay any capital gains taxes on it?

Replies

Please login or register to join the discussion.

There are currently no replies, be the first to post a reply.

Share this content