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Strategies & Market Trends : Cents and Sensibility - Kimberly and Friends' Consortium -- Ignore unavailable to you. Want to Upgrade?

To: Jim B who wrote (5778)5/21/1999 5:02:00 PM
From: InOverMyHead  Read Replies (1) | Respond to of 108040
 
Jim, I am not a tax expert, but I have asked that same question. Apparently, you can only take $3000 of the top. This is another case of Clinton sticking it to us. If they are going to tax us at an outrageous rate, at least let us declare our losses.

IOMH



To: Jim B who wrote (5778)5/21/1999 5:02:00 PM
From: 2MAR$  Respond to of 108040
 
Buy Low, sell high! It'll lessin the pain, JIM! LOL



To: Jim B who wrote (5778)5/21/1999 7:03:00 PM
From: Craig K  Respond to of 108040
 
Yes, you can roll them over..My accountant did mine and beleive me, I had some...you can write off 6K loss even if you don't have gains to write off against.....

Craig



To: Jim B who wrote (5778)5/21/1999 8:06:00 PM
From: Helen Krukas  Read Replies (3) | Respond to of 108040
 
Jim, I'm a CPA. Capital Losses are limited to $3000. a year. Any losses exceeding that amount are carried forward to subsequent years.

BTW I have learned so much lurking on this and Wayne's threads and have even made more money than I thought possible. If anyone has any tax or financial statement questions just PM me and I'll try to help you out.


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