02/17 I've lost a lot of $ in the stock market, and someone told me that I
could claim "capital loss" for tax purposes. However, when I look at
my W form, I don't see any loss figures. So how do I claim it?
\_ Hire a CPA.
\_ you need to fill out a schedule D. It has nothing to do with
your W form. And you can only claim 3000/year (but can carry
over larger amounts to subsequent years.) And try not to
trade so much in the future, you high roller, you.
\_ I lost 4000... so how much do I get back? Also, where do I get
\_ Depends on your income - and you're not "getting it back"
The government isn't covering your losses, just cutting
you a small break on your taxes.
this schedule D? (btw I'm NEVER trading again)
\_ Ask the IRS for a schedule D. Also, your 4000 loss must
be subtracted from any long term gain you may have seen
from your "trading" (and mutual fund distributions, if you
have any). BTW, this isn'r really the right forum for this
-- but it'll get you started. It's good that you are not
\_ what's wrong with trading? i've made a shit load of money
trading this year. you just gotta know what you are doing.
\_ unless you are actively trading millions of dollars,
commissions and taxes will take a large part of your
big-shot gains. That's all I meant. And im sure you
just make so much money "trading" hot shot.
\_ i don't see how trading millions of dollars at a
time reduces the tax burden. but yeah, for most
people, investing is a much better idea.
\_ It doesn't. You pay taxes at the end of the year
not on a per-transaction basis. Also, if you're
trading that much your broker is probably giving
you a break, but you're definitely in the top tax
bracket.
\_ FUCK CONRAD
\_ Who's Conrad? Is he sexy?
going to trade anymore. Try _investing_ instead.
\_ well, if they're short-term losses, they're
subtracted from short-term gains. |
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