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Strategies & Market Trends : Income Taxes and Record Keeping ( tax )
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To: Colin Cody who wrote (1581)12/10/1998 4:38:00 PM
From: W.F. Schwertley  Read Replies (1) of 5810
 
To Anyone,

I could use some information on year end taxes. From what I gather, if I have a $5,000 loss at the end of the year from my stock portfolio, I can only deduct a maximum of $3,000 from my income for tax purposes. So, no matter how much I lose on stocks during the year, I am always limited to the $3,000 maximum deduction on income.

Is this correct? I do appreciate any information.

Thanks,
WFS
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