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Financial Planning / Tax Strategies


Subject:  Re: Capital gaines taxes on losses? Date:  12/10/1999  2:17 AM
Author:  TaxService Number:  22760 of 127637

Do you have to pay capital gains taxes on stock you sold where you LOST money?

Nope! But if you have any gains, use the losses to offset them. Any remaining losses (up to $3000) may be deducted from your other income. If the losses exceed $3,000, any amount over that is carried over to next year, or future years, til it is consumed by new gains, time, or your demise.


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