Any tax guru out there? I need help!

[ChefGirl]

Does anyone know if there is a limit on how much capital loss you can offset against your taxable income such as dividend income, interest income, etc.? Is it true that whatever the remaining capital loss you can carry over to the next year until it's used?

Thanks.

[Giantbear]

Each year you can offset $3000 of ordinary income with capital loss, the remaining capital loss can be carried forward for future years.

Please consult your ax advisor as their are nuances to the law to be considered.