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Strategies & Market Trends : Income Taxes and Record Keeping ( tax ) -- Ignore unavailable to you. Want to Upgrade?

To: Spots who wrote (764)3/16/1998 10:12:00 AM
From: Cents  Read Replies (1) | Respond to of 5810
 
FIFO has nothing to do with the wash sale rule

Ohhhhh...I'm soooo confused. I truly need to read the tax rules to understand its complexity and check again with the same taxman. Or maybe try another.

I thought capital losses were used to offset the gains, and that the net loss were deductible up to $3000 a year with anything more carried over to the following year. Am I correct to think so?

Can you please point out the other flags?

Thank you in advance.

Cents


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