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To: Dragonfly who wrote (24494)4/30/1999 6:56:00 PM
From: helkel  Respond to of 213177
 
OT You can deduct losses up to amount of gains, plus 3K. IE made 5000, lost 6000, net loss is 1000 deducted. If losses exceed the 3k above gains, you can carry over for the future.
IE made 1500, lost 7000, deduct 3000 this year, carry over 2500 to next year. May be a limit to time losses can be held to the future, don't know what.
hk