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Strategies & Market Trends : IRS, Tax related strategies--Traders -- Ignore unavailable to you. Want to Upgrade?

To: soar who wrote (491)	9/12/1998 10:14:00 PM
From: Kaye Thomas	Read Replies (1) \| Respond to of 1383

if i sell one stock owned less then a year for a loss of (75,000) & another stock owned less then a year for a gain of 100,000,do i realize a short term gain of 25,000 by subtracting the loss from the gain? is the gain then subject to my ordinary income tax rate? That's correct, subject to the usual qualifications -- for example, you don't lose the ability to claim the loss because of a wash sale or a sale to a related person. BTW, I'm aware there are other questions for me here but I'm a little too busy now working on my own web site to respond. I'll try to get back to those questions later. Kaye Thomas, author Fairmark Press Tax Guide for Investors fairmark.com