4 ms·
The loss wasn't allowed in the current year, but it was added to basis of the remaining stock, so eventually the lower tax still happens.
by PopAlongKid 3y ago
The loss wasn't allowed in the current year, but it was added to basis of the remaining stock, so eventually the lower tax still happens.
- fatnoah 3y agoGood point, though the result of my clever maneuvering is having to deal with a loss carry forward for a long time due to the amount involved. I guess the bright side is that when I finally have some capital gains to report when I retire, I'll have something to offset them as the amount is large enough that the capital loss deduction allowed for ordinary income won't even be close to depleting it when I hit retirement age.