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Strategies & Market Trends : IRS, Tax related strategies--Traders
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To: ayahuasca who wrote (579)11/29/1998 10:38:00 AM
From: Colin Cody  Read Replies (1) of 1383
 
aya, I understand you can write off no more than $3000 in losses,
Yes, $3,000 in CAPITAL losses is the limitation.

but does than mean $3000 in net losses?
Yes, that's $3,000 in NET CAPITAL losses.

To put it another way, if I have $15000 in capital gains against $13000 in [CAPITAL] losses, I end up with an overall $2000 [CAPITAL GAIN], right?
That is correct.

Colin
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