Free Republic
Browse · Search
News/Activism
Topics · Post Article

To: muawiyah

While I agree that the rich aren’t going to be paying as much in taxes as the middle class....I do question your statement about “carry backward and carry forward.” You can ONLY carry about $3000 a year in losses, if my memory is correct. With their losses they’ll be able to carry them for about the next 200 years, probably....


9 posted on 12/30/2008 8:11:16 AM PST by goodnesswins ("Dissent is the highest form of patriotism" said Hillary Clinton. I'll be REALLY patriotic!)
[ Post Reply | Private Reply | To 3 | View Replies ]


To: goodnesswins
You can ONLY carry about $3000 a year in losses, if my memory is correct.

It isn't. You can't write off more than $3000 in long term capital losses against income in any one year, but you can carry it forward indefinitely. This is for individuals -- corporate carryforwards and carryback rules are more complex and have some time limitations.

12 posted on 12/30/2008 8:35:36 AM PST by Pearls Before Swine (Is /sarc really necessary?)
[ Post Reply | Private Reply | To 9 | View Replies ]

To: goodnesswins

I think the guys most concerned with capital gains taxes sold their shares last month about the 20th. It was mistaken for the “bottom” (which actually comes next month).


27 posted on 12/30/2008 11:17:40 AM PST by muawiyah
[ Post Reply | Private Reply | To 9 | View Replies ]

Free Republic
Browse · Search
News/Activism
Topics · Post Article


FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson