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

Redundant question; already answered.