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Strategies & Market Trends : Roth IRA ideas -- Ignore unavailable to you. Want to Upgrade?

To: Gary who wrote (347)7/20/1999 12:56:00 PM
From: Martin Wormser  Read Replies (1) | Respond to of 388
 
Gary, Thanks for the work. I'm still ingesting this.

I was told by someone that if I keep the stock for a year (which I plan to) I can get the full benefit of any loss.

I do have an accountant but they aren't so keen in the stock area.
When it comes to taxes, neither am I.

Thanks again.

martin



To: Gary who wrote (347)7/21/1999 11:49:00 AM
From: Howard R. Hansen  Read Replies (2) | Respond to of 388
 
I have no dispute with your statement that Martin can't use the loss on this sale to offset other capital gains because it is a Wash sale. However, does Martin have to pay income taxes on the $355 proceeds from the sale? It seems like the IRS almost has a way of getting a cut of your income but doesn't want to know about your losses. For example you can't write off gambling losses but the IRS sure wants a cut of your winnings.


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