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.

Technology Stocks : Ascend Communications (ASND) -- Ignore unavailable to you. Want to Upgrade?

To: jeff conn who wrote (22963)	11/12/1997 3:16:00 PM
From: Nick Tingle	Read Replies (1) \| Respond to of 61433

OFF TOPIC REPLY: I believe you can, but only 50% of the short term loss can be offset against the long term gain. My advice: plug the numbers into TurboTax and see what happens. (Or, since you've got such a large gain, use some of it on a CPA...)

To: jeff conn who wrote (22963)	11/12/1997 3:20:00 PM
From: Augustus Gloop	Respond to of 61433

I have a very large long-term capital loss. Maybe we could change positions and then you wouldn't have to pay those nasty taxes.

To: jeff conn who wrote (22963)	11/12/1997 3:20:00 PM
From: Harry Ehrlich	Read Replies (1) \| Respond to of 61433

Don't know, but wish I had the same problem. Harry

To: jeff conn who wrote (22963)	11/12/1997 8:58:00 PM
From: DaveA	Read Replies (2) \| Respond to of 61433

Jeff, you can off-set your long-term capital gains with your short-term capital losses. You first net your long-term capital gains and losses and your short-term capital gains and losses. If one group is a net gain and the other a net loss, the two are netted. If the result is still a loss, you can off-set other (non-capital income) up to $3,000 per year. With your long-term (greater than 18 months holding period) capital gain tax rate of only 20% (federal rate only), it would be best to off-set the short-term capital loss against short-term capital gains. Good luck! DaveA