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Author: wrightr34 Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 118623  
Subject: gains and losses questions Date: 8/6/2000 1:01 PM
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My questions can best be explained by giving a senario. I got married on July 15, 2000. My wife sold some stock for a loss before we were married earlier in the year. I sold some stock for a gain before we were married also earlier in the year and then some other stock for a gain after we were married. If we file jointly can I use her losses to offset all of my gains.
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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: 38486 of 118623
Subject: Re: gains and losses questions Date: 8/7/2000 12:24 AM
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My questions can best be explained by giving a senario. I got married on July 15, 2000. My wife sold some stock for a loss before we were married earlier in the year. I sold some stock for a gain before we were married also earlier in the year and then some other stock for a gain after we were married. If we file jointly can I use her losses to offset all of my gains.

Yes. Your joint gains and losses will all be reported on a single schedule D (since you said you plan to file jointly) and netted against each other. For more details on the netting process, there is an article on it in the FAQ.

--Peter

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Author: rossbarrett Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 38494 of 118623
Subject: Re: gains and losses questions Date: 8/7/2000 9:22 AM
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You should be able to. The tax year begins Jan. 1st in the year you got married, so youcan avail yourself to all the benefits (mostly burdens of marriage penalty) of your wife's losses. However, I strongly suggest talking to a CPA, of which I am not.
Good luck.

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