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Pastimes : Where the GIT's are going -- Ignore unavailable to you. Want to Upgrade?

To: Ish who wrote (169278)	11/5/2008 7:17:18 PM
From: ManyMoose	1 Recommendation Respond to of 225578

If Obama wants to make some useful change, he could start with our tax code. It sucks.

To: Ish who wrote (169278)	11/5/2008 9:34:21 PM
From: Augustus Gloop	1 Recommendation Read Replies (1) \| Respond to of 225578

Thats why we have tax loss selling. If the person in the example sells then they can deduct next years (assumed) 2k gain against the portion that's left over that couldn't be deducted for the 2008 tax year. It comes down to this The IRS wants to participate 100% (get their cut) on gains but they want to limit their exposure by limiting the amount a person can deduct on stock/MF transactions. My feeling is the Govt has a lot more to do with the state of our economy (their policy decisions) than you and I do. As such they should either participate fully in both directions OR not tax capital gains.