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To: tonyt who wrote (56176)5/10/1999 11:28:00 AM
From: Wayners  Read Replies (3) | Respond to of 164685
 
I didn't get it from your post. I inferred it from sombody else's post that is truely an expert in the tax area. I have a follow up question. Is there a time limit by which you have to use up the tax loss carry forward by? You can apply the tax loss carryforward whenever you want to provided you have the capital gains of the same type, short or long term, to apply it to? This is really going to help a friend of mine who had about $40K in losses one year, but usually has gains of $20K or more. He had been writing down the loss at only $3,000 a year.