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It depends what kind of tax loss it is.
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∙ 15y ago
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What is if any the maximum allowable short term capital losses you can claim on your taxes?
You can claim a maximum capital loss of $3,000 each year and carry any remaining capital loss forward. This is AFTER netting it against capital gains. So if you have $20,000 capital loss and $15,000 in capital gains, your net would be a $5,000 loss. You can claim $3,000 of that loss this year and $2,000 next year. NOTE: The question states "short term capital losses" - no such animal. Until you hold the asset for a year or more, any gain or loss irealized from the sale of that asset s considered netted against your ordinary income. After a year the gain or loss is long term, or capital, and a long term loss can be used to off-set any capital gains to the full extent of your current yerar capital gains. If your capital loss exceeds the capital gains, you can apply up to $3,000 of the additional capital loss against your ordinary income. Any additional loss over $3,000 in the current year would roll forward to by used in future years.
Can you offset your loss due to the Indy Mac bank failure?
Yes, although it depends on what type of loss you have. As the deposits were covered generally, so you really couldn't ahave a loss on that. If you own stock in the Co...the loss on stock is allowed against any other "capital" gains. There is a process of matching the type of Capital loss (long vs short term) and such...and any amount not used this year is first 3K a year allowed against ordinary income, and carried forward and useable against other future capital gains (+3K a year against ordinary income), for the next 20 years.
Do you have to pay taxes on an insurance claim from a house fire?
No. Insurance benefits from a house fire would be considered a swap of assets. You cannot take a deductible loss on your taxes for the loss that was reimbursed by insurance.
Can you use long-term capital loss to offset short-term capital gains?
can long term gains be offset by short term losses
What is the maximum amount of long term capital loss that an individual can claim on its 2008 tax return?
You report ALL of your capital losses (long or short term) on your tax return. They are used to first offset all of your capital gains (no limit). If there is still a net capital loss remaining, you can deduct the smallest of the following from your ordinary income: 1) $3000 2) your net capital loss 3) your AGI (computed without including any capital gains or losses) minus your standard or itemized deductions, but not less than $0. The full amount not used is then carried over and treated as a new capital loss in the immediately following year. Always fill out the carryover worksheet in the Schedule D instructions to determine the amount carried over. Never assume that the answer is obvious.
He NAIC mandated loss ratio for individual long-term care policies is?
The NAIC (National Association of Insurance Commissioners) does not mandate a specific loss ratio for individual long-term care policies. However, insurance regulators may examine a company's loss ratio to ensure it remains financially stable and capable of meeting its obligations to policyholders.
What is if any the maximum allowable short term capital losses you can claim on your taxes?
You can claim a maximum capital loss of $3,000 each year and carry any remaining capital loss forward. This is AFTER netting it against capital gains. So if you have $20,000 capital loss and $15,000 in capital gains, your net would be a $5,000 loss. You can claim $3,000 of that loss this year and $2,000 next year. NOTE: The question states "short term capital losses" - no such animal. Until you hold the asset for a year or more, any gain or loss irealized from the sale of that asset s considered netted against your ordinary income. After a year the gain or loss is long term, or capital, and a long term loss can be used to off-set any capital gains to the full extent of your current yerar capital gains. If your capital loss exceeds the capital gains, you can apply up to $3,000 of the additional capital loss against your ordinary income. Any additional loss over $3,000 in the current year would roll forward to by used in future years.
Why was there a need for an alternating current?
Because A.C. current is easy to carry over long distance with minute loss than d.c. current.
Will every individual who inherits the allele for huntington's disease will develope it?
Yes, as long as you carry the gene you will, in some stage of your life develop the disease.
How does upholding long accepted human values help in progress of an individual and nation?
When you uphold your values you are not moving backwards. This will help you move forward because you are not compromising your principles.
How long does a largemouth bass carry its eggs?
How long do bass carry eggs
What are the lyrics to Adieu by Enter Shikari?
And I long for you to appear After losing your way Across star-riddled skies To carry you home And I long for you to appear After losing your way Across star-riddled skies To carry you home I cherish my loss, A gentle reminder That life is unkind At the best of times (ouuuuuuu, ouhoouuuuuuu) And I long for you to appear After losing your way Across star riddled skies To carry you home I cherish my loss, A gentle reminder That life is unkind At the best of times (Brace yourself, 'cause I think I'm falling for you) (Wake up into the sky) Home can be anywhere When I am holding you (x8)
How long does a dashshund carry her pups?
How long does a dashshund carry her pups? How can you tell if she going to have pups?
How long does it takes before someone really shows the other their true selves. I believe everyone puts their good foot forward until they know an individual. So how long before their true selves come?
Have you considered the possibility that perhaps your beliefs are misplaced.
How do you carry a dog?
You can carry it any way as long as you at least support its butt, and as long as you don't hurt it. Does that help?
Which part of the neuron can carry information for long distances?
The axon is the part of the neuron that can carry information for long distances.
How do you carry a handgun from state to state?
It depends on what you mean exactly. You can transport an unloaded handgun in your vehicle while you travel as long as the handgun isn't accessible to you. However, if you have a handgun carry permit, you can carry the gun on your person in some states. That said, you can carry a handgun on your person inside your car in some states without a permit. Check out handgunlaw.us for more information about each individual state's laws.
