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

To: Howard R. Hansen who wrote (350)7/21/1999 12:39:00 PM
From: Martin Wormser  Respond to of 388
 
Howard, Thanks for the input. Wasn't it a 4k loss though.
I have no idea.

Next time PAY ATTENTION WHEN BUYING OR SELLING.

martin



To: Howard R. Hansen who wrote (350)7/21/1999 2:55:00 PM
From: Gary  Respond to of 388
 
Howard

The net loss can't be deducted currently due to the wash sale rules. It is calculated by deducting the cost of the securities sold from the proceeds, so the event is no taxable imn any manner at this time.

You can deduct gambling losses up to the amount of your winnings, provided that you itemize deductions. many parts of the tax laws are unfair and the enforcement of the laws is even less fair.

Regards,

Gary


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