Income Taxes and Record Keeping ( tax ) Message Board

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Strategies & Market Trends : Income Taxes and Record Keeping ( tax )

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To: Colin Cody who wrote (259)	12/14/1997 8:28:00 PM
From: diana g	Read Replies (1) of 5810

Re: A)Rollover Losses. B)1st Qrtr Estimated Tax A)If I have $6K of losses in '97, I use $3K to offset '97 income and rollover the remaining $3K to '98. Can I use it against 1st qrtr '98 estimated tax? Or must I spread it over four qrtrs, or not use it against estimated tax at all? B)If I sell in January for a long term gain of $40,000., must I pay estimated tax on the full amount in 1st qrtr? Same for short term gain? ---Just read the thread from the start. A great resource! Thanks to all of you who have eased the perplexedness of investors! Best Regards, diana

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