Welcome Guest. Register Now!  



Find a tax professional cpa near you

View Single Post
  #2 (permalink)  
Old 01-26-2007, 11:08 PM
TaxGuru's Avatar
TaxGuru TaxGuru is offline
Tax Guru
 
Join Date: Jan 2007
Location: New Jersey, USA
Posts: 1,864
Blog Entries: 3
The maximum losses that are deductible in a current tax year is $3,000 per year! These losses would be offset against your regular taxable income.

In general, Capital losses are deductible to the extent of capital gains. If the losses exceed the gains, the a maximum of $3,000 losses are deductible in the tax year with the excess carried over for future years to be offset against future gains.
__________________
Find a CPA near you!

Ask TaxGuru Please refer to the legal disclaimer.
Reply With Quote
 
Follow us on Twitter
» Categories
 
Individual
 » Income
 » IRA/Sep
 » Medical
 
Corporations
 
Forum for CPAs
 
Financial Planning