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.
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