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URL:  http://boards.fool.com/quotif-say-i-lost-a-cool-mil-in-the-market-this-13971361.aspx

Subject:  Re: Capital Losses Date:  12/26/2000  9:53 AM
Author:  Crosenfield Number:  43381 of 121599

"If say I lost a cool mil in the market this year could I itemize this over the remainder of my life at 3k a year?"

Yes.
You could also hope that next year you'd have capital gains.
A decade or so ago I was lured into the commodity market and incurred a bunch of losses I didn't believe I'd ever be able to take. But what do you know, they all were written off against gains--plus the $3000 a year. Now I'm back to paying taxes on capital gains and will never, ever, do anything with a commodity trader again!
Best wishes, Chris


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