Can I use the Losses in Stocks to offset gains made in flipping a house

[virs]

What is the name of your state (only U.S. law)? North Carolina

State NC

I own 3 rental properties.

I bought a house at a foreclosure auction in January 08, fixed and sold it in May 08. I bought this property with the intent to sell (not to rent). I made a decent profit during this transaction.

I plan to bailout of stock market before end of this year and will take a loss on my stock market investment. Will I be able to use the losses in the stock market to offset the gains I made in flipping the house?

Is there any links where this type of topic has been discussed?

Appreciate some help..

[LdiJ]

Originally Posted by virs

What is the name of your state (only U.S. law)? North Carolina

State NC

I own 3 rental properties.

I bought a house at a foreclosure auction in January 08, fixed and sold it in May 08. I bought this property with the intent to sell (not to rent). I made a decent profit during this transaction.

I plan to bailout of stock market before end of this year and will take a loss on my stock market investment. Will I be able to use the losses in the stock market to offset the gains I made in flipping the house?

Is there any links where this type of topic has been discussed?

Appreciate some help..

Basically yes, capital gains are offset by capital losses.