Ask Experts Questions for FREE Help !
Ask
    slscott99's Avatar
    slscott99 Posts: 3, Reputation: 1
    New Member
    		  
    #1

    Dec 26, 2008, 08:20 AM
    Follow up on short term vs long term loss
    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's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #2

    Dec 29, 2008, 06:21 AM
    Redundant question; already answered.
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Short term vs long term capital gains, loss carryovers [ 4 Answers ]

Back in 2000 and 2001, I had short term capital losses that exceeded the 3000 dollar limit. Each year, I've been able to deduct 3000 dollars since my short term gains have been minimal. I still haven't used up all my 2000 and 2001 short term losses. I had some long term gains in 2000, but...

Should I claim short term or long term loss [ 4 Answers ]

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. I can sell stock I've held for a while and generate a long term loss or use stock acquired this year for...

Accounting for Long Term and Short Term Cap Gains [ 2 Answers ]

How do I properly account for Long Term and Short Term Capital Gains from investments (stocks and bonds)? I am unsure of which account to use and the proper treatment on the financial statements. We (the Company) have not been involved in investing much until this year. Feel free to assume I know...

Is short-term or long-term debt more stressful to your personal finances? Why? [ 4 Answers ]

Is short-term or long-term debt more stressful to your personal finances? Why?

View more questions Search