COMS & the Ghost of USRX w/ other STUFF Message Board

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Technology Stocks : COMS & the Ghost of USRX w/ other STUFF

COMS 0.00150

-28.6%

Dec 11 9:30 AM EST

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To: Glenn D. Rudolph who wrote (6477)	10/8/1997 8:38:00 PM
From: David Lawrence	of 22053

>>What is the maximum amount one can claim this year 1997 for a CAPITAL LOSS on a stock or stocks? You can claim 100% of your capital losses up to the amount of any capital gains. Beyond that, you can offset up to $3000 of capital losses against ordinary income. Does it carry over into next year 1998 and/or for how many years? The rest carries forward, either indefinitely of for at least 10 years. No changes in 1998. No carrybacks. How does it work out if you have more capital loss vs. capital gains? You zero out your gains against losses, and carry any unallocated losses forward. There are also "ordering" issues. In some cases, it's inadvisable to offset long-term gains with short term losses, due to the loss of favorable tax treatment. Losses always apply to their equivalent type of gains first, so it sometimes pays to generate some short-term gains to apply against excess short-term losses to protect the long term gains tax treatment, if any. But, I digress. That's my understanding, anyway.

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