The Motley Fool Discussion Boards

Previous Page

Financial Planning / Tax Strategies

URL:  http://boards.fool.com/capital-loss-carryover-12023670.aspx

Subject:  Capital loss carryover Date:  2/21/2000  9:32 PM
Author:  TweetleBeetle Number:  29523 of 121106

I created a UGMA account for my son and invested in the foolish 4. Last year I had an overall capital loss of about $700. My son had no other income. Thus no tax is due (nor is a refund).

My question is, do I have to file a return at all? Can I carry over the loss to next year (when the foolish four will make profit!) and deduct it from my 2000 gains. In the latter case, do I have to file a return this year (to do the carry over?)

Thanks,

Dave
Copyright 1996-2014 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us