Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Arvinder Malhotra who wrote (1575)	12/9/1998 9:30:00 PM
From: Colin Cody	Read Replies (1) \| Respond to of 5810

How much am I allowed to deduct as a capital loss this year? Your allowable capital loss deduction for any tax year, figured on Schedule D, is limited to the lesser of: $3,000 ($1,500 if you are married and file a separate return), or Your capital loss as shown on line 18 of Schedule D. If you have a capital loss on line 18 of Schedule D that is more than the yearly limit on capital loss deductions, you can carry over the unused part to later years until it is completely used up. Refer to Publication 17, Your Federal Income Tax, or Tax Topic 409, Capital Gains and Losses, for additional information.