Income Taxes and Record Keeping ( tax ) Message Board

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Strategies & Market Trends : Income Taxes and Record Keeping ( tax )

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To: Colin Cody who wrote (797)	3/29/1998 6:28:00 PM
From: Shoe	of 5810

"Long-term" loss on sale of mutual fund within 6 mos. -- 28% rate? When loss is converted to "long term" under the anti-"distribution capture" rule, can one offset 28% gain to the full extent of the 28% portion of the distribution, even if the total loss is less than the total capital gains distribution? Or must one take the full 20% portion first? Or prorate? Any authority on this point? And how does one get Turbotax to report the loss properly after importing all the trades by "link" from Quicken98? Thanks in advance for any responses. -- Shoe

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