Message Font: Serif | Sans-Serif
No. of Recommendations: 0
"If say I lost a cool mil in the market this year could I itemize this over the remainder of my life at 3k a year?"

You could also hope that next year you'd have capital gains.
A decade or so ago I was lured into the commodity market and incurred a bunch of losses I didn't believe I'd ever be able to take. But what do you know, they all were written off against gains--plus the $3000 a year. Now I'm back to paying taxes on capital gains and will never, ever, do anything with a commodity trader again!
Best wishes, Chris

Print the post  


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.
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.