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View Full Version : Follow up on short term vs long term loss


slscott99
Dec 26, 2008, 08:20 AM
Hi - I have stock that I receive every year which of course has been hammered - I want to sell just enough to take advantage of the maiximum 3000 capital loss, just to offset ordinary income, also:

1. Can the loss be used to offset ordinary income even though I'm subject to AMT ?
2. Does the trade have to settle prior to 12/31 or just be ordered by that date.
3. If I take a long term loss in a custodian account in my minor son's name can I still claim the loss on my tax return ?

Thanks for all the help

AtlantaTaxExpert
Dec 29, 2008, 06:21 AM
Redundant question; already answered.