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To: posthumousone who wrote (280083)	3/15/2004 12:11:14 AM
From: Box-By-The-Riviera™	Respond to of 436258

try here. some good people for that question. Subject 17266

To: posthumousone who wrote (280083)	3/15/2004 6:19:25 AM
From: Jeff Jordan	Respond to of 436258

The 3K deduction is the limit each year for losses if you don't have any profits to offset your losses. Let's say you have an additional $10K in losses...you simply carry that forward to offset your coming capital gains. If you don't have any capital gains then yes you deduct $ 3k again and continue to carry forward your credit until you make some money. Tax credits can be a good thing.<g> I believe you need to use the deduction or lose it...ask an accountant. Good luck.....make more money then you don't have that problem.....you have the other one...paying taxes. .......I am not an accountant,but that was an easy question.

To: posthumousone who wrote (280083)	3/15/2004 7:34:50 AM
From: MoneyPenny	Respond to of 436258

You can carry forward a capital loss for the rest of your life. The losses can be applied towards any gains (and dividend income as well) with a 3k max over that amount. You may choose not to use your capital loss carryforward and use it at a later date. This paltry deduction limit has been in effect for almost 30 years and there has been periodic discussion of upping the limit but it has never passed congress. There are some pretty stunning losses that would be deducted if allowed and I guess they do not want to take that hit in tax revenue. Money Penny