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To: kollmhn who wrote (166681)4/2/2012 12:25:02 PM
From: vireya  Read Replies (1) | Respond to of 206177
 
Doesnt that apply ONLY to interest offsets?

I think, in USA, you can deduct lotsa cap gains with cap losses, but only 3K of interest



To: kollmhn who wrote (166681)4/2/2012 12:36:16 PM
From: sm1th3 Recommendations  Read Replies (1) | Respond to of 206177
 
Smith, you can't offset prior gains in one year with losses in the following years (greater than $3,000).

Of course not, but you can offset future gains until you have used all of the losses. I paid no capital gains for several years as I unwound some of my bubble mistakes. That resulted in lower capital gains taxes in those years than if the bubble had never happened.