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Author: TaxService Three stars, 500 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121061  
Subject: Re: Short term loss Date: 7/26/1999 10:15 PM
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I sold stock at a loss, short term. At tax time will I be able to write off, short and long term gains or just short term gains against these losses?

Net your losses. Use your short term losses to offset your short term gains. Use your long term losses to offset your long term gains. If your total losses exceed 3000, you may deduct the first $3,000 of losses in the current year. Any balance is carried over to future years until it is consumed by gains, carryovers, or your demise.

"Jack"
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