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can someone educate me on stock losses. throughout the year i had serveral of them, am i allowed to claim those as losses?
T e x
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not now...you had to sell in 07 for this year's return. And you're prolly not classified as a trader, so on capital gains/losses, you're prolly limited to $3k write-off.
Machiavelli
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Best site imo to educate yourself on such topics:
posted
Trade, I assume your are talking about losses in '07, right? If you use taxcut or turbo tax it should figure it out for you, just have to have your 1099 and figure out the cost basis.
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