Replies to post #276346 on InterDigital Inc (IDCC)

[micktoo164]

Well, I guarantee Mickey would never seek professional tax advice. He has already decided in his own mind how it will be.

[The Count]

Robjer, don't offer tax advice

Each of your short comments regarding capital loss carryovers demonstrated that you have just enough knowledge of taxes to be dangerous. I sent a PM to Mickey as he may have an issue, but it is not what you stated.

Capital loss carryovers can offset future capital gains, regardless of the source. If you own a rental property and you sell it for a gain, that gain is a capital gain (except for the portion that is a recapture of depreciation). That capital gain is offset by capital loss carryovers, regardless of whether they were from stock, real estate or anything else. You are correct that you can't use capital loss carryovers to reduce the tax on your inheritance, but that's because the recipient of an inheritance is not taxed on what he receives, so there is no income to reduce.

I suggest you talk to your tax guy about your tax situation and keep your mouth shut when you think you should "help" others with their taxes. You are woefully ignorant. I let it go the first time, but the lack of comment apparently emboldened you, and I don't want to make that mistake again.

Frank CPA