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

To: AlienTech who wrote (589)12/3/1998 10:56:00 PM
From: Tom Hua  Read Replies (2) | Respond to of 1383
 
AlienTech, You can write off 3K losses from your income, the balance will be carried over to future years. In your example, if you have capital gains of more than 7K next year, then they can be used to offset the carryover amount. Other expenses may be considered investment expenses, and deduction may be limited.

Regards,

Tom


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