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Author: ResNullius Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121061  
Subject: Cap Losses Date: 4/19/2009 10:21 AM
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If I sell a mutual fund at a loss, what types of taxable income can I offset against the loss: interest income, cap gains, ordinary income, dividends? Are there limits to how much can be offset in a given year? How many years can I carry the loss forward? Thanks for the help.
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Author: ptheland Big gold star, 5000 posts Feste Award Nominee! Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 105824 of 121061
Subject: Re: Cap Losses Date: 4/19/2009 12:40 PM
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You can offset an unlimited amount of capital gain, plus $3000 of any other kind of income. Any loss greater than that amount gets carried forward until your heirs file your final tax return.

--Peter

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Author: ResNullius Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 105825 of 121061
Subject: Re: Cap Losses Date: 4/19/2009 1:15 PM
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You can offset an unlimited amount of capital gain, plus $3000 of any other kind of income. Any loss greater than that amount gets carried forward until your heirs file your final tax return.

--Peter


Thanks for the help.

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Author: stockmover Big red star, 1000 posts Old School Fool CAPS All Star Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 105827 of 121061
Subject: Re: Cap Losses Date: 4/19/2009 5:23 PM
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Yeah, and unfortunately with the 2008 stock market crash it may make the $3K carryforward seem eternal :(

TG (who got clobbered in the market)

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