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Author: SeymourButz Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121148  
Subject: Long Term Loss used against a Short Term Gain Date: 11/24/1999 2:27 PM
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My question is simple. Can you use a Long term loss against a short term gain?


Reason I am asking:
I have some long term gains and long term losses for this year. I want to sell some stocks I currently hold and receive a short term gain on that sell. I will then turn around and repurchase the stock the same day I just sold for a gain. This way my long term loss gives me a tax break on a short term gain rather than a long term gain.

Thanks in advance,

Seymour
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