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Technology Stocks : Cymer (CYMI) -- Ignore unavailable to you. Want to Upgrade?

To: Holyman who wrote (15143)	2/27/1998 10:22:00 AM
From: Stephen Swantz	Read Replies (1) \| Respond to of 25960

Holyman: Re your request to Douglas on the $3,000 limitation, I will take a shot at an explanation since his message was late last nite. The normal procedure on computing your taxes on capital gains/losses is to total all your transactions, gains and losses. If the result is a gain, you pay appropriate taxes on gain. If the net total is a loss, you may deduct the loss up to a maximum of $3,000. in that year. If the combined gains/losses total was a net loss in excess of $3,000. , then you can carry the excess of 3,000 over to following years until the excess is used up be offsetting the losses against gains and using the $3,000 annual maximum deduction against ordinary income. In effect, your 1997 losses can be used to offset 1998 and future years gains until the total 1997 loss is consumed by the gains and annual $3,000. deductions. Sorry I couldn't make this shorter. Steve