The Motley Fool Discussion Boards
Financial Planning / Tax Strategies
|Subject: Re: Wash sale rule question and capital losses||Date: 7/11/2000 5:17 PM|
|Author: rensimer||Number: 37370 of 125423|
Lets say company D is down 30% from where I bought it. If I sold the shares of company D and put that money immediately into a similar competitor whose shre price is down 27%, am I in danger of running afoul of the wash sale rule?
How much of capital losses can I claim against my ordinary income?
Up to $3,000 of ordinary income can be offset by capital losses in excess of capital gains in a tax year; any losses above that must be carried forward to the next year.
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