$1!!!, page-14

so your telling me if i sell a stock i lost $10,000 on in jan 2011, and and sell Ntu and make $10,000 proft in April 2011, your saying even though they are in the same year, i can deduct my capital loss from the capital gain, even if both are from the same financial yr?

So my tax agent lied to me, because i called H and R block and he said no, they must be in different financial yrs to do this

THEY OBVIOUSLY DID NOT UNDERSTAND YOUR QUESTION - THERE IS NO DOUBT YOU CAN SELL EITHER THIS YEAR OR NEXT YEAR AND IT WILL OFFSET.

At end of June (30th) you have people rushing to sell losses against profits made that year because

THE PROFITS WILL BE TAXED THAT YEAR AND ANY LOSSES MUST BE DEDUCTED IN THAT SAME YEAR TO OFFSETA AGAINST A PROFIT !!

Crazy Ron