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Andrew Schwartz CPA
Dec 4, 2005 - 5:50PM
Re: Re: stock losses

Each year, you first use all of your capital losses, including capital losses carried forward from the prior year, to offset any capital gains realized during the year (including capital gain distributions from your mutual funds held in taxable accounts). You can then take up to $3,000 in excess losses, and claim those losses against your salary and other "ordinary income".

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