Replies to post #515 on Taxes (TAX)

[ypsiCPA]

Welcome WorkNoPlay (and thanks Cintrix!)

Capital Losses can offset Capital Gains without limit. For instance:

2010 $10,000 capital loss. $3000 offsets wages and other income, $7000 carried forward to 2011.

2011 $10,000 capital gain. $7000 of it is offset by the capital loss carryforward, $3000 of gain remains and will be taxed.

So here's to a successful, tax-sheltered 2011!