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To: Alidotr who wrote (2037)	11/27/2000 9:59:58 PM
From: John Pitera	Respond to of 2850

Hi BR, I did run this by the accountant who has had CPA certification for a number of years, I copied my response to you that you have responded to in a note to Norman R. Message 14857023 (that URL and it's contents is what I sent to him) -g- here is his response, -------------- Dear John: Your response on capital losses exceeding $3,000 for the year was right on point in every regard. The carryforward to future years is indeed 3 years or more, in fact, it is without limit in number of years carryforward. Your point is excellent concerning the offset against other capital gains, since you look to the net of short term, the net of long term, then the net of all capital gains/losses. $100,000 of ST or LT capital loss offsets $97,000 of capital gain, regardless of ST or LT, plus $3,000 of any other kind of taxable income. As you pointed out, you might not want to offset LTCG (taxed at 20%) with STCL which could be moved to another year and offset STCG/ordinary income taxed at 28%, 31%, etc. Each situation requires careful consideration of all facts and circumstances. --------------