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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Skip Danger who wrote (234778)1/3/2010 12:11:04 AM
From: Skeeter BugRead Replies (1) | Respond to of 306849
 
>>So, you have to have more losses than gains to write anything off, with a max of $3000 per year.<<

Ned, i think you have the idea down, but the above is a very confusing way to express it.

you can deduct your losses, in a given year, up to $3000 over your gains.

in equation form:

max potential deduction in a given year = yearly gains + $3k.

when gains are $0, you may deduct up to $3k and carry over any additional losses.

when gains are $100k, you may deduct up to $103k and carry over any additional losses.

of course, one has to actually have losses in order to deduct them.



To: Skip Danger who wrote (234778)1/3/2010 10:32:23 AM
From: techlover1Read Replies (3) | Respond to of 306849
 
If I remember correctly, you can also carry over the loss in additional years up to $3,000 per year for a certain number of years. Does this also apply to real estate or just stock and business losses?


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