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you stated "The IRS won't even let you offset trading gains with real estate loss carryforward or K-1 loss carryforward on your 1040. They don't take kindly to that attempted mixing - like hedge funds, they tax the "high water mark" in each area." I don't have real estate losses and I don't...

the C corp was an insurance agency and i sold the renewals and kept the assets cash, property, and a car. I have been helping the people i sold it to but they don't pay me a salary just paying off on the buy sell. The assets are just sitting there so I figured i would trade with them as i have...

I hear you loud and clear. Most CPA's seem to be overwelmed by the day to day. if we keep the current Tax code etc. the day will be coming when CPA's will need to specialize within an industry. I have yet to find one thats worth the 500 an hour that that seem to charge...ergo I am doing my own...

thats the question... i was looking for an answer. I have losses in the C corp because of expenses. if I trade the gains from the sales would offset the losses so I would have about 55,000 in "free" profits but was worried about anything over that.

thanks...like I said my accountant moved so i am struggling with a do your own tax software from TURBO Tax. They have a section on NOL's and honestly never even heard of them. I was in business for 25 years and always had a profit After selling the business end and keeping the assets I have had...

that seems like a lot to do... I am looking for easy. I am lazy and can handle a little accounting work but dont want it all tied up in a life insurance thing. Appreciate the answers. I hope RWK can figure out which is the way to go. I have some profits in my C corp this year due to some...

I have losses in the C Corp...so I was thinking the gains would offset the losses. For example my C corp has no sales or gross income but it pays my health insurance buys my car etc etc etc... I have about $55,000 in expenses. My trading profits, lets say they are $55,000 so now I am breakeven...

I have a C corp that been posting a loss for the past couple of years. I have been trading as an individual and of course pay taxes on my gains. I am thinking of starting to trade under the C corp as I would then offset the losses but i worry that my gains will be hit with heftier taxes...