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


To: Jeff Jordan who wrote (1063)4/25/1998 8:18:00 PM
From: Colin Cody  Respond to of 5810
 
Jeff, If you had a 20K capital loss carry forward '96 And a capital gain of 50K.....is 30K the '97 taxable amount?

YES that's the idea! A 1997 stock GAIN of $50K would result in $30K being taxable in 1997 AFTER using up all that $20K carryforward from 1996.

Colin