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Pastimes : The Big Tex House of Coin

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To: Wayne Rumball who wrote (17703)	3/24/2001 11:41:32 PM
From: Jeff	Read Replies (3) of 19297

a man walks into his accountants office in december..... the man says..... you know back in march i was up 100k......but during the year.....as the market tanked.....i started getting losses...but still made more gains during the year...... but i refuse to take losses on my biggest losers.....because i think they will come back in 2001..... the accountant says.....take your damn losses now or you will be taxed for higher gains than you have money to pay them.....if they don't come back...you are screwed..... take losses now!!!!!!!! its that simple.....its a year end tax strategy...... winners and losers go against each other short term...... if you have 200k gains......and 70k losses.....you are taxed on 130k.......not 200k! does that explain it better

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