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  • From: Diana Duncan <art2mis AT nc.rr.com>
  • To: cmccarthy1 AT nc.rr.com, "Internetworkers: http://www.ibiblio.org/internetworkers/" <internetworkers AT lists.ibiblio.org>
  • Cc:
  • Subject: Re: [internetworkers] Selling Stocks at a Loss
  • Date: Thu, 16 Oct 2003 13:08:58 -0400

While the maximum for any given year is $3K, you can apply any over that you lose over how ever many years it takes - this is called a "capital loss carryover". I've dumped some serious losers over the bad years, and carried over the losses to the good years. Speaking of serious losers, if a company has been delisted, your broker will usually at least pay a penny for the lot, which allows you to "sell" the dead stock. Also, if you actually made any gains, losses and gains are added together to produce a net gain or loss.

You may have known all of that... :)

Diana

On Thursday, Oct 16, 2003, at 12:39 US/Eastern, Colleen McCarthy wrote:


Hi Folks,

I know that many of you have probably sold stocks at a loss over the last
few years. I'm going to do so this year for tax purposes. Does anyone have
any guidance to offer? (e.g., anything that bit you, or that you felt
fortunate to discover before it bit you?) I don't have a CPA and am
debating whether I should get one, or just research this myself. When the
maximum writeoff appears to be $3K, I don't know if it's worth pulling in a
CPA.

Thanks much!

Colleen





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