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Financial Planning / Tax Strategies


Subject:  Re: Short term loss Date:  7/27/1999  2:46 PM
Author:  edcosoft Number:  17699 of 127753

I sold stock at a loss, short term. At tax time will I be able to write off,
short and long term gains or just short term gains against these losses?

Sorry, it's not just "able to", you HAVE TO. It is unfortunate that you must lose the advantage of Long Term Gains rates and waste the higher rate Short Term Loss on them instead of higher ordinary income. Ed
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