Jon in Pasadena Posted April 16, 2009 Posted April 16, 2009 Correct. You can offset as many gains with like losses as you can. I used to joke after the dot com bust that I came across people that had 100 years of $3k write offs of their ordinary income. Yay! I officially out-rank a houseplant!
KD in CA Posted April 16, 2009 Posted April 16, 2009 Interofficed my return to my CPA with my PIN and he pressed the button. See when you're rich you can pay other people to press your buttons. I'm so rich I do it just for fun. And you're damn straight I'm gettin' a good refund. With the first full year of marriage and other stuff I had no idea how it would turn out.
Chef Jim Posted April 16, 2009 Posted April 16, 2009 I'm so rich I do it just for fun. And you're damn straight I'm gettin' a good refund. With the first full year of marriage and other stuff I had no idea how it would turn out. First year of a refund it's ok. Second year you're a douche. Especially when this year in CA they were offering IOUs.
Jon in Pasadena Posted April 16, 2009 Posted April 16, 2009 First year of a refund it's ok. Second year you're a douche. Especially when this year in CA they were offering IOUs. Really? I'd heard that and was worried some, but I got my CA refund direct-deposited only 3 business days after the Federal one.
Chef Jim Posted April 16, 2009 Posted April 16, 2009 Really? I'd heard that and was worried some, but I got my CA refund direct-deposited only 3 business days after the Federal one. They didn't say they were going to issue IOUs, they said they might have to.
Jon in Pasadena Posted April 16, 2009 Posted April 16, 2009 They didn't say they were going to issue IOUs, they said they might have to. Stimulus money FTW
Gordio Posted April 17, 2009 Posted April 17, 2009 The reason I ask is that you can only write off a maximum of $3,000 of capital losses against your income each year. Looked at my schedule D on my tax returns last night. Your right, my accountant wrote off $3 grand even though I had $4,800 in capital losses. Never knew that was the most you could write off. Guess that is why I hve an accountant doing my taxes lol.
Chef Jim Posted April 17, 2009 Posted April 17, 2009 Looked at my schedule D on my tax returns last night. Your right, my accountant wrote off $3 grand even though I had $4,800 in capital losses. Never knew that was the most you could write off. Guess that is why I hve an accountant doing my taxes lol. You'l be able to carry the other $1800 over to next year either your income or like gains.
stuckincincy Posted April 17, 2009 Posted April 17, 2009 You'l be able to carry the other $1800 over to next year either your income or like gains. Somebody once observed that the entire landscape of the nation would change if the general election was held on the 1st Tuesday after the 1st Monday in April.
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