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Article: Tax liability on capital gains is an issue of netting pluses vs. minuses
- Article from:
- The Milwaukee Journal Sentinel (Milwaukee, WI)
- Article date:
- July 6, 2002
- Author:
CopyrightCopyright 2002 The Milwaukee Journal Sentinel. Provided by ProQuest LLC. (Hide copyright information)
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Avrum D. Lank
Tax liability on capital gains is an issue of netting pluses vs.
minuses
By AVRUM D. LANK of the Journal Sentinel staff
Saturday, July 6, 2002
Q. I will be selling some stock shortly and generating a little
less than $3,000 in losses. Hopefully, later in the year I will be
able to generate some gains and balance them against the losses.
While I know that the tax rate on capital gains is higher if the
stock is held less than a year, does that matter if I am netting that
short-term gain against a long-term loss?
S.N., via the Internet
A. Not exactly, so bear with me.
When it comes time to file your income tax, you will be required
to net your long-term capital gains against your ...