The Motley Fool Discussion Boards
Financial Planning / Tax Strategies
|Subject: Re: Capital Loss Deduction and Strategy?||Date: 4/18/2000 7:53 PM|
|Author: TMFTaxes||Number: 34733 of 122534|
<<For example, if I have $7000 in short term gain, can I offset $5000 in short term loss against it?>>
There is an EXCELLENT article in the Taxes FAQ area regarding the "netting" aspect of capital gains. I can say that it's excellent since I didn't write it.
It really lays out the issues and how capital gains (both short term and long term...and the capital loss deduction and/or carrover) actually works. I'd really recommend that you check it out for additional details.
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