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Author: stocks2grow Two stars, 250 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 120819  
Subject: loss limit for taxes? Date: 11/20/2008 12:42 PM
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Hi,

Is there a limit in one year as to how much loss from investments (stocks, mutal funds) you can claim? If so, what happens to the remainder - does it carry over to next year?

Thanks,
Mike
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Author: Hohum77 Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 102687 of 120819
Subject: Re: loss limit for taxes? Date: 11/20/2008 1:46 PM
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Hi,

Is there a limit in one year as to how much loss from investments (stocks, mutal funds) you can claim? If so, what happens to the remainder - does it carry over to next year?

Thanks,
Mike


Yes, up to $3000/yr Capital Losses offset income.

Yes, you keep track of it & the rest carries forward.


FYI, the issue has been discussed in several threads within the last few days

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Author: jeffbrig Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 102688 of 120819
Subject: Re: loss limit for taxes? Date: 11/20/2008 3:58 PM
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FYI, the issue has been discussed in several threads within the last few days

It's weird, almost as if a bunch of people lost money in the market this year....

(ducking and running)

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Author: TMFPMarti Big funky green star, 20000 posts Home Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 102689 of 120819
Subject: Re: loss limit for taxes? Date: 11/20/2008 4:03 PM
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Is there a limit in one year as to how much loss from investments (stocks, mutal funds) you can claim?

First you net capital gains and losses, so there's no limit to the amount of gains that can be offset by losses. After that the limit is $3,000 that can be applied to other income.

See Schedule D of the 1040.

Phil

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Author: Watty56 Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 102690 of 120819
Subject: Re: loss limit for taxes? Date: 11/20/2008 5:26 PM
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...FYI, the issue has been discussed in several threads within the last few days

It's weird, almost as if a bunch of people lost money in the market this year....


One of the things that I have been wondering for the last few days is how much selling to take the tax losses has helped the market go down.

Greg

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