With losses mounting from Stock losses and no turnaround visible in the near term, I should Congress should increase the $3,000 capital losses per year!

Anybody have any idea if this is being considered for 2008?

I fully agree with that, I have sustained capital losses in excess of $3,000 in 2001 and the losses are still being carried over at $3,000 per year!

This is clearly not right, given the inflation factor that reduces the dollar value for future deductions. I think we should be able to write-off the entire losses at one shot!

Any disgreements anyone??

Geat proposal!

But, common get real! Congress will never go for it because it will cost a lot of lost tax revenues.

Just think of the dreaded AMT tax, they only talk about getting rid of it but when it comes time to vote, they shy away because it will cost a loss of $1 Trillion over 10 years!!!!!

My thoughts are to fully support this proposal as well..

I still have not been able to deduct my capital losses incurred during the bubble burst of 2001-2002! My tech losses were in excess of $100,000 and since these losses i stopped investing completely.

So, at the most my CPA told me that I can only writeoff of $3,000 per year! That's ridulous to say the least..It will take me 33 years to writeoff off my losses.