[net.taxes] Long term loss deduction

tml@druhi.UUCP (07/16/86)

Under the new proposed tax laws, are long term losses 100% deductable?  I read
somewhere that this may be the case.  I have some stock I want to sell at
a big loss, and wonder if I should sell it this year (under the current
tax laws) or wait until next.

                                      Thanks in advance,

                                      Tim Larison  ihnp4!druhi!tml

jld@ulysses.UUCP (07/17/86)

> Under the new proposed tax laws, are long term losses 100% deductable?  I read
> somewhere that this may be the case.  I have some stock I want to sell at
> a big loss, and wonder if I should sell it this year (under the current
> tax laws) or wait until next.
> 
>                                       Thanks in advance,
> 
>                                       Tim Larison  ihnp4!druhi!tml

If you are going to be in the 27% bracket under the new proposal, by all means
wait until next year.  There is one kicker, however.  Congress still has set a
$3000 limit on the amount of capital losses you can deduct in a given year.