Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: KeepItSimple who wrote (177133)	7/2/2002 8:38:38 PM
From: Don Lloyd	Read Replies (2) \| Respond to of 436258

KIS - taxcut.com Capital loss "The loss from the sale of assets such as stocks, bonds, mutual funds and real estate. Such losses are first used to offset capital gains and then up to $3,000 of excess losses can be deducted against other income, such as your salary. Long- and short-term losses (distinguished by whether the property was held for more than one year or a shorter period of time) are first used to offset gains of a similar nature. Any excess first offsets the other kind of gain, then other types of income...." money.msn.com Capital Loss Carryover "The amount of capital loss not allowed as a deduction in the current year and carried over to the next year. You are limited to $3,000 of capital losses you may use to offset ordinary income in one year, but you may carry the excess losses forward indefinitely until they are used up." These are not definitive, but in all cases the $3k limit is attached to non-capital income. Regards, Don

To: KeepItSimple who wrote (177133)	7/2/2002 9:05:12 PM
From: Don Lloyd	Read Replies (2) \| Respond to of 436258

KIS - Response #2 Taking a quick look at Schedule D in TurboTax, it would appear that long and short term carryover losses are directly netted with current long and short term capital gains and losses without any $3000 limitation. Regards, Don

To: KeepItSimple who wrote (177133)	7/2/2002 9:12:14 PM
From: Ken98	Respond to of 436258

<<Prosecutors to criminally charge analysts --NY Post NEW YORK, July 2 (Reuters) - Federal prosecutors are expected to make criminal charges against some former Internet analysts as early as next week, according to a report in the New York Post. Citing sources familiar with the investigation, the report in the newspaper's online edition said that although it is unclear who might be charged, possible targets include Merrill Lynch and Co. Inc. (NYSE:MER - News) former analyst Henry Blodget as well as others who were the targets of a lawsuit brought recently by New York Attorney General Eliot Spitzer. ADVERTISEMENT A Merrill Lynch spokesman did not immediately return calls for comment. Officials with the U.S. Attorney's Office in New York could not be reached immediately for comment. Merrill in May had agreed to pay $100 million to settle charges brought by Spitzer that the No. 1 U.S. brokerage had misled investors by tailoring its research to please investment banking clients. >>