The Motley Fool Discussion Boards
Financial Planning / Tax Strategies
|Subject: Re: Long-term loss vs. short-term gain?||Date: 11/5/2003 7:04 PM|
|Author: irasmilo||Number: 67448 of 121095|
If that's confusing, I'm sorry, but your last question is less than clear...
No, actually, that's just what I was getting at. :)
Thanks for the answer and thanks for the link
The fool article on netting gains and losses is out of date and doesn't exactly apply in 2003. I haven't worked through the entire process yet, but what I do know is that you will have to net short and long-term gains and losses pre-May 6 separate from short and long-term gains and losses post-May 5. While your overall includable net loss will still be $3000, there will be lots of worksheets to determine how to apportion pre and post capital gains and carryforwards from past years.
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