Capstone Companies Inc (CAPC)

[sbc357]

I know you carry it forward - those losses that are losses that the IRS ALLOWS you to claim.

HOWEVER, The Wash Rule says (to the best of my understanding) If you buy the stock back (a stock you are claiming a loss on) before thirty (30) days, you then forfeit all rights to claim that loss on your taxes. So, if you want to claim those losses, once you sell the stock at a loss, you CANNOT buy it back for a minimum of 30 days.

The losses that you have been careful enough to NOT forfeit, can then be carrried over from one tax year to the next until they are all accounted for - which is what I believe you are talking about.

Feel free to correct anything erroneous here. I am NOT an accountant, I have just had to be informed on this by an accountant.