Fuck the IRS. After the bank I work for went belly up last year, my ESPP stock portfolio went straight into the toilet. My capital loss for 4+ years of contributions was about 30K. The IRS lets me write off $3,000 of that and defers the other 26,900 to next year, where I get to write off another 3K? Is that how this works?

Meanwhile, my dad’s IRA which I used to put a down payment on a house counts as untaxed income? All of it at once?

Looks like I’m on the hook for six figures this year. Holy fuck. And I haven’t even started on my state taxes.