Allstocks.com's Bulletin Board: Tax liability

This is topic Tax liability in forum General Investing Topics at Allstocks.com's Bulletin Board.

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Posted by options on :

I have a question concearning tax liability. Lets say I was to profit $5,000 and lose $5000 throughout 2005 Would I be taxed on the overall profits or would it just be a wash. Basicly what I am getting at is if I have winners and losers through the year when do I need to be concearned with putting back for tax time. Will my loses offset my gains? any help would be great.

Posted by Bob Frey on :

Ask your tax advisor but they should wash.

Posted by Machiavelli on :

you can check on www.fairmark.com .....