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Pastimes : The Big Tex House of Coin
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To: Jeff who wrote (17725)3/25/2001 1:04:49 AM
From: JamesB  Read Replies (1) of 19297
 
Well now, you said:

example......you made 100k in capital gains in 2000......but as your port bleed down in the fall.....its only worth 30k.....

so in december you had a choice.......take your 70k in losses and you wouldn't be taxed on that.....you would only have 30k to show.....thus you would only be taxed on 30k in capital gains.....

There was no mention of selling (realizing capital gains), anywhere in that post. If you will read it again, it is pretty clear that what you said was you would be taxed on unrealized capital gains if you did not sell before the end of the year, and obviously that is just wrong. That is the entire issue here, nothing more nor less, and all the condescending remarks will not change that.
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