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Financial Planning / Tax Strategies


Subject:  Re: Stock Market Losses - $3000/yr Date:  5/20/2013  11:12 PM
Author:  math999man Number:  118622 of 127637

...Any amount of the loss can be used to offset capital gains. What you need to do is have gains to use up the losses. Any amount of losses can be applied against gains...

I understand from the above that if I loose 9K in 2009 and have no gains, I can only write off 3K. But in 2010 - if I gain 10K, I can balance 6K of the outstanding looses from 2009 against the 10K and only pay on 4K of net gain ?

Is this correct ? It seems too simple.

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