Reduce your US Taxable Income

I've always known in general about the USD 3K deduction, but always end up having to look up the rule for the details.

Here is a good, simple article on how you can use the 3K: HERE
Key points:

• You can use an infinite amount of capital losses to offset your capital gains in any given tax year
• A maximum of USD 3K of net losses can be used to deduct your taxable income for any given tax year.
• Therefore, if you have losses you can benefit from taking them before Dec 31st and thus reducing your taxable income.