Tax question (for future reference)

[phorsenuf]

Calling all tax professionals and/or other knowledgable people.
We have some stocks, if we were to cash them in I know typically you have to pay Capital Gains tax. But, are there any exceptions like if you use the proceeds for home improvements or medical costs?
Just doing some future planning..... Thanks!

 

[Bob Slydell]

Sorry, but no, there aren't any exceptions like you mentioned. At least nothing comes to mind offhand.

 

[tar heel]

Losses offset gains. So if you have a gain of $10,000 on one stock and a loss of $5,000 on another, you just pay taxes on $5,000.