The Motley Fool Discussion Boards
Financial Planning / Tax Strategies
|Subject: Stock Market Losses - $3000/yr||Date: 5/20/2013 12:44 PM|
|Author: diegorgazzi||Number: 118616 of 122629|
Capital gains loss rules our wonderful government imposed on us: IRS says $3000/yr max. So, if you lose $9000 one year, you're allowed to deduct it over 3 yrs. If you lose $90k then... move to Belize.
I have been unable to find information on whether this rule is different if you own an LLC or Inc or any other type of entity. Anyone know?
It would be absurd for a Bank or investment company to lose Billions of Dollars one year and make a few millions the next, and yet, still have to pay the tax for the new year income.
I can see how the IRS is pushing around the little guy (i.e. all of us small time investors) but to think that Wall Street hasn't lobbied against this rule being applicable to them sounds impossible. They already don't pay the self employment tax and they can claim long term capital gains on regular employment as money managers (oh, and these rules apply to us to, so Thank you Wall Street).
Funny how when you make money IRS wants you to pay the tax "Right Now" but when they owe you money they say "We'll pay you later".
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