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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club
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To: theodore who wrote (1821)10/26/1998 8:55:00 AM
From: Boca_PETE  Read Replies (3) of 15132
 
Theo: re:<Carryover Rules for NET Long Term/Short Term Cap Losses>

Net Capital Losses in excess of $3,000 allowed to be applied against Ordinary Income may be carried forward INDEFINATELY until exhausted.
In the carryover year, Net Long Term Losses carried forward are FIRST APPLIED to LONG TERM Capital Gains in the carryover year. Net Short Term Losses are first applied to SHORT TERM Capital Gains in the carryover year.

My comments to Marc Ultra were meant to focus on the benefit of tax selling a minimum number of shares with the most per share unrealized loss so as to derive a maximum tax refund for 1998 without having to restart the Cap Gain holding period for your entire position.

Of course one can tax sell ALL shares with an unrealized loss and generate a loss carryforward, but if you think the company has prospects to rise quickly starting by next summer, why not hold on to as many shares as possible so as to keep cap gain status on the remaining shares.

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