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You can keep deducting that capital loss on the options exercise going forward against future capital gains, and up to $3000 more can be deducted against regula
by jnordwick 10y ago
You can keep deducting that capital loss on the options exercise going forward against future capital gains, and up to $3000 more can be deducted against regular income each year until you balance everything out.
BUT
Since the gain is actually unrealized the best answer is ask your CPA. Really.
- encoderer 10y agoOnly in years where you have no AMT liability. GL with two earners in California. While you have AMT liability you have to keep endlessly carrying forward your 0% interest loan to the govt.
- jnordwick 10y ago1- I don't know how exactly AMT liability interacts with the capital loss carry over 2- Almost nobody hits the AMT jackpot year after year. 3- Ask your CPA and California's tax system is one of the worst in the country. They keep milking that SV cash cow year after year, and it is drying up but they don't seem to care :)
- encoderer 10y agoA lot of people in California (and NY, NJ, etc) hit AMT every year. Two incomes, with very large deductions for state income tax, mortgage interest, and property taxes paid.
- jnordwick 10y agoSo I have to choose between a wife and a house? Eek... I guess I can always just get a dog. Sadly, I say that only half jokingly.