I made a wrong real estate investment and loss close 100k. I don't want
deduct all the in one year. Can I distribute my capital loss over few
years.

I'm an independent consultant and my income about is $120k. Now, you
see why I don't to deduct all my loss this year. I prefer to deduct
$40-$50k this year only and the rest in few years. Is this possible? Or do
you have any
recommend for me on this issue for income tax purpose?

Thanks

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Request for Question Clarification by pafalafa-ga on 03 Jul 2006 20:29 PDT

The amount of net capital gains (or losses) that can be taken as a
deduction in any given year is quite limited...I think it's only
$3,000 per year for personal income taxes, with the rest carrying
over.

Am I misconstruing your situation?


pafalafa-ga