North Bay Resources Inc (NBRI)

[TooHotty]

So I was intrigued with the discussion you guys were having on capital loss and I decide to see what I could find. Thought I would share this with you.

http://www.investopedia.com/articles/investing/062713/capital-losses-and-tax.asp


"Example Frank realized a capital gain of $10,000 in 2013. He also realized a loss of $30,000. He will be able to net $10,000 of his loss against his gain, but can only deduct an additional $3,000 of loss against his other income for that year. He can deduct the remaining $17,000 of loss in $3,000 increments every year from then on until the entire amount has been deducted. However, if he realizes a capital gain in a future year before he has exhausted this amount, then he can deduct the remaining loss against the gain. Therefore, if he deducts $3,000 of loss for the next two years and then realizes a $20,000 gain, he can deduct the remaining $11,000 of loss against that gain, leaving a taxable gain of only $9,000."