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Technology Stocks : John, Mike & Tom's Wild World of Stocks
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To: Alidotr who wrote (2029)11/21/2000 2:09:58 PM
From: John Pitera  Read Replies (2) of 2850
 
the $3000 is the limit for what you can deduct against
other ordinary income, but if you have other gains such
as those from owning MSFT for 15 years like the woman
on cnbc yesterday afternoon, it might be an attractive
time to offset real bloodbath losses with other longterm
bigtime gains. This enables one to have the flexibility
to sell MSFT in the future but you can re-adjust upward
your cost basis of ownership to the current price level of
68.50 or so.

The basis on someone who has held MSFT for 15 years is
probably around 3$ or so -g-

Now if you have just short term losses versus long term
profits, that needs to be looked at and also, lets
say one only has losses or net loses, they can be carried
forward for several years (at least 3) and you can
offset future investment gains.

I'm not an accountant, and so I may have elements of this
wrong. but I'll at least put this forward to generate
some tax planning ideas, before the end of the year.

I'll email this over to the accountant, and see if he
has some thoughts.
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