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Strategies & Market Trends : The Amateur Traders Corner

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To: Dale Baker who wrote (15614)	11/4/2001 9:59:27 PM
From: Paul A	Read Replies (1) of 19633

Actually, the one thing I know alot about is loss carry overs unfortunately... I jumped into stocks/trading with both feet and its been a looonnggg road : ) What is cool about trading is, the way the carry over rules are set up- the incentive is to keep trying if you think you can get it 'right'.. You can match an entire years gains against loses regardless of whether or not they happened in that year.. For instance, I myself lost about $100,000 back in mid 90s, so I was able to keep matching that each year against my gains until it was depleted. The $3000 is in addition after all the gains are matched. Its funny because this little detail is very vague in the IRS handbook- and unless you really took a beating in the markets like me, youll never know.. This is what actually kept me trading when I lost all my money because essentially I knew if I figured it out, my gains would not be taxed obviously.. and I certainly didnt want the 1/3rd you get from taking $3000 a year deduction.. ah enough about taxes.. IM starting to get depressed thinking that this year is almost over.. taxes and death- yoiu know what they say.

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