Cents and Sensibility - Kimberly and Friends' Consortium Message Board

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Strategies & Market Trends : Cents and Sensibility - Kimberly and Friends' Consortium

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To: InOverMyHead who wrote (5779)	5/21/1999 5:17:00 PM
From: Jim B	Read Replies (2) of 108040

so if I lose $100,000 in 1998 and then make $10,000 in 1999 I only get to take off $3,000 and be left paying taxes on $7,000 in 1999? meaning $97,000 in accruing losses gets rolled over to 2000? If that is true, then in this scenario the person will have to have net profits over $3,000 every year for 32 more years in order to counter their losses in 1998? THAT IS RIDICULOUS!!!!!!!!!!!! Has anyone here had a net loss from investing in one year and a profit the next and got to carry over the full amount? The rule I know of is that no MORE THAN A NET LOSS OF $3000 in investing is allowed but I dont know if you can apply the full previous losses to your gross gain as long as you still end up with a net loss of $3000, $2000, etc or better(more profitable). jim

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