Archie's Corner

[RunninAmuck]

mmayr, a tax loss is deductible whether it's to pay taxes or not. And you don't need a note from your broker. All losses for the year are first applied against your gains, then if you still have a loss balance, you can deduct $3,000 for the year. Any loss balance still remaining rolls over to the next year and so on until you've deducted all your loss either directly or by offsetting against gains ... Amuck