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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 (5794)5/22/1999 12:13:00 AM
From: lakers17  Read Replies (1) | Respond to of 108040
 
Jim a definite yes. And if you still have more losses than your gains this year you can continue to carry it forward for 2000 to offset future gains.

Lakers



To: Jim B who wrote (5794)5/23/1999 9:41:00 AM
From: Helen Krukas  Read Replies (1) | Respond to of 108040
 
Yes, you can offset your 1997 and 1998 net capital loss carryforwards against 1999 capital gains. If this results in a net gain, you will be taxed on the entire amount. If the result is still a loss, you can deduct up to $3000 in 1999, with the remainder becoming your new carryforward loss.

In other words, you don't lose the deductibility of your losses.

Hope you have lots of gains and pay lots of taxes.


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