I used to be an amateur options trader and lost several thousand dollars over the past 2 years.

I understand how the wash rule works but here is my question. Let's say I lost 150,000 dollars over the past 2 years.

I know you can deduct 3000 a year for losses in the market. My question is this

If I gain 150,000 dollars this year as capital gains on short term trading, will I owe any taxes ?

  • 2
    You will not make hands over fist money. Everyone thinks they will. Nobody does. Delete that part and just ask your tax question. Jan 30, 2021 at 3:15
  • 2
    Tax questions need a country tag. Jan 30, 2021 at 12:44
  • Definitely an exact duplicate question. We just need to find the other one. Jan 30, 2021 at 15:34
  • @JTP - Apologise to Monica♦ - This might be an existing duplicate question. Jan 30, 2021 at 17:04
  • Ha. Yes, can't believe that was last April. Thanks. Jan 30, 2021 at 18:00

1 Answer 1


If you deducted $3k of your $150k loss in previous tax filings then you'll have less than $150k as a carryover deduction. So if you make $150k this year, most of it will be offset by the carryover, just not whatever number of times you deducted $3k.

Not the answer you're looking for? Browse other questions tagged .