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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: Skip Danger who wrote (234772)12/30/2009 4:55:49 PM
From: jmiller099Read Replies (1) of 306849
 
This does not represent a professional opinion it is for discussion purposes. I am not any of the following: a tax adviser, tax authority, tax preparer, cpa, eap, etc.

Schedule D is like a tally of gains and losses for transactions closed within the year. Losses will offset gains on Schedule D (pretty much fully, I think) and then you can use up to 3k to offset other income (like salary, etc) and carry the rest over to be applied to the following year's schedule D (first offsetting gains and then spill over to max of income up to 3k).
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