finecur[at]yahoo.com (finecur) posted:

- quote -

Without seeing the entire return, it's impossible to determine the
"rightness" of the return preparation; however, the question about
losing the benefit of the -$1000 loss "forever" is answerable implicity
by the requirement that loss carryovers must be taken up to $3,000 in
the next year -- even against ordinary income.

Assuming your accountant properly filled out the Form 6251, the benefit
is indeed gone, forever.

Bill

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I have some stock loss carryover (-$1000) from 2006. I made $1500 in
stock in 2007 and my overall stock gain or loss in 2007 is about
$500.
In the text return form prepared by my accountant however, I found
the
$1000 carryover was addback to my AMT (Form 6251 item 16 Disposition
of property). Is this right? Does this mean that I can not take any
benefit of the -$1000 loss forever?


Thanks,


ff

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<< ------------------------------------------------------- > << 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 (2007) - All rights reserved. > << ------------------------------------------------------- >