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Re: TRADE-O-PUSS post# 12403

Thursday, 12/25/2014 9:20:28 PM

Thursday, December 25, 2014 9:20:28 PM

Post# of 38496
THE $3K IS ONLY AGAINST EARNED INCOME AND HAS NOTHING TO DO WITH CAPITAL GAINS/ LOSSES. THEY CARRY OVER FOREVER AGAINST PASSIVE INCOME GAINS.. NOT ACTIVE, ACTIVE EARNED INCOME IS ONLY $3K PER YEAR. IF YOU LOSE $1MILLION DOLLARS IN THE STOCK MARKET IT IS A PASSIVE INCOME LOSS AND CARRYS OVER UNTIL PASSIVE INCOME EXCEEDS THE LOSS CARRIED FORWARD, FOREVER. INVESTMENT INCOME IS PASSIVE INCOME NOT ACTIVE. AND IRS ACTUALLY ALSO LETS YOU WRITE OFF ANOTHER $3K AGAINST ACTIVE INCOME ON YOUR PASSIVE LOSS CARRYS PER YEAR. CONTACT AN ADROIT INCOME TAX MAN.

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