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Gold/Mining/Energy : Day trading in Canada -- Ignore unavailable to you. Want to Upgrade?

To: the Chief who wrote (1080)	11/5/1998 6:23:00 PM
From: keith massey	Read Replies (2) \| Respond to of 4467

One thing to add about the capital gain/loss. As I understand it if you sell a stock for a capital loss you have to wait 30 days before you purchase it again and hold it past Dec 31. For example if you sell a stock on Dec 22 and buy it back on Dec 23 and hold into Janurary you cannot claim the loss on Dec 22 as a capital loss for the year. It might not make a difference for day trading but it does make a big difference for tax loss selling of longer term holds. Best Regards KEITH

To: the Chief who wrote (1080)	11/5/1998 8:25:00 PM
From: Kevin Hamlin	Read Replies (3) \| Respond to of 4467

Chief: <<<If you have a Capital Gain from previous years you can use them to write off Capital Loss for this year. Conversely if you have a Capital Loss you can carry forward from a previous year, you may write this years Capital Gain off against it!>>> I knew you could carry forward losses from previous years, but how does it work the other way around? Are you saying that if I had a gain last year (which has already been claimed on last year's taxes) and I have a loss this year....I can somehow work that to my advantage? I don't understand. Also, is there a fixed number of years that you can work with? Thanks Kevin