Message Font: Serif | Sans-Serif
UnThreaded | Threaded | Whole Thread (6) | Ignore Thread Prev | Next
Author: Charlie48K Big red star, 1000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 123153  
Subject: Re: Long Vs Short Term losses Date: 8/9/2001 12:39 AM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 0
Is it more foolish to take $3000 off AGI in short or long term losses?
Have not realized any losses yet.

It is most foolish to worry about long term gains, or short term gains. :)

If you have any gains or losses at the end of the year, the short term gains are set against the short term losses. Same with the the long term stuf. The resultant sort term and long term gains and losses are added togher and the net is looked at. If you still have a loss, you can take $3000 against ordinary income, excess above that is carried forward.

If you have a capital loss, either long or short, like I do now without a short term or long term gain, it goes against my income. Reducing my income and saving me taxes. Short term gains are taxed at the same rate a normal income, so, my best tax situation is to try to avoid long term gains this year.

Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (6) | Ignore Thread Prev | Next


In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
Post of the Day:
Saul's Investing Discussions

Skyworks Mid-Quarter Review
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.