Tumbling Stock Prices Focus New Attention on Capital-Loss Tax Rules
Wall Street Journal (09/19/01) Vol. 104, No. 37 p.A1; Katzeff, Paul

Lawmakers are reviewing an economic stimulus package that would include a cut in capital-gains tax rates. The subject is sensitive, as some analysts believe it would be more beneficial to change the capital-loss rules and permit investors to deduct more of their losses than presently allowed. Under current law, investors can offset winners and losers on a dollar-for-dollar basis. If there are no gains, or if losses exceed those gains, then a person can deduct up to $3,000 of net losses against ordinary income.

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