Message Font: Serif | Sans-Serif
 
No. of Recommendations: 0
In the middle of last year I found MF to my great delight. I decided I wanted to put my personal monies in UG5 (the rest of my money is in a 403B account which can only be in mutual funds). UG5 didn't do too well in the latter half of '97, and I took quite a few short-term cap losses. When I add up all my short-term cap gains and losses for my stocks in '97, it adds up to a net loss of $6,000. (UG5 has since done fine and my portfolio has gained all this back so far in 98; but those '97 losses came from stocks that were sold in '97.)

Is there any possible way to offset this short-term cap loss? I had a $2,000 gain from Treasuries I held in the first half of '97; can these offset each other? Can I somehow carry-over this short-term loss in '97 to offset my (hopefully) larger gains from sales of my UG5 stocks in '98???

Sorry for my extremely-neophyte questions; but 97 was the first year I've held stocks; so I am an extreme-neophyte as regards stock tax strategies.

Thanks for your advice.
Print the post  

Announcements

Disclaimer:
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.
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.
Advertisement