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Gold/Mining/Energy : Big Dog's Boom Boom Room

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To: Bearcatbob who wrote (156913)	9/13/2011 1:49:04 PM
From: Sam	3 Recommendations Read Replies (1) of 206087

If I have a bad year in the market and my losses are limited for tax purposes to $3000 (family)... I am sure it was all legal for GE to not pay. However, we are talking about closing loopholes here and FAIRNESS. If GE can duck all of their taxes due to losses - why can't I? Why cannot others? Bob, if you lose a lot of money one year (say, a million dollars), and then you make a million dollars 2 years later, then you too will be able to "duck" all of your taxes on that gain by using that tax loss carry forward. No differently than what GE apparently did. The $3,000 limit is only if you haven't made a corresponding gain, and have some loss left over. Then you can only deduct the extra $3,000. Apologies for not replying to this sooner, haven't been keeping up with this board.

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