Long-term capital gains can be offset directly by long-term capital losses. You may deduct up to $3,000 of net long-term capital losses per year. Your net long-term capital loss of $101,913 would reduce your ordinary income by up to $3,000 with the remainder available as a carry forward for use in future tax years.<table class='simpletable'><tr><th class='section'>Summary Of Long-Term Capital Transactions <span id="capitalGainsHelp"><img class="helpimg" alt="help" src="https://www.calcxml.com/images/260/help-bubble.gif"></span><script type="text/javascript">Tipped.create("#capitalGainsHelp", "https://www.calcxml.com/do/toolTip?src=https://www.calcxml.com/images/help/capitalgainstable.gif", { ajax: true });</script></th><th></th></tr><tr><td>Long-term capital gains</td><td>$0</td></tr><tr><td>Long-term capital losses</td><td>$-101,913</td></tr><tr><td>Net long-term capital transaction</td><td>$-101,913</td></tr><tr><td>Amount Subject to Taxation at 0%</td><td>$0</td></tr><tr><td>Amount Subject to Taxation at 15%</td><td>$0</td></tr><tr><td>Amount Subject to Taxation at 20%</td><td>$-3,000</td></tr><tr><td>Taxes due</td><td>$-3,000</td></tr><tr><td>Effective Tax Rate on Net Long Term Capital Gains</td><td>0.0%</td></tr></table> <div id="chart1Container">Chart will load here</div> <script type="text/javascript">  </script>