"Tim" <Tim5464[at]yahoo.com> wrote:

- quote -

there is no carryover of gains from one year to offset
losses in the next year

___________________________________
<<< Benjamin Yazersky, CPA [NJ & NY] > > -----> real address on hobokeni or hobokenx <-----

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If a PHC has capital gains last year and paid taxes
accordingly, does it get any benefit against losses thsi
year? Or each year on its own? I know PHCs are more
restrictive than other corporations, but I don't really know
the rules.

Thanks.

<< ================================================== ===== > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >