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Write off ordinary income with investment losses?


I may have $50,000 in trading losses in 2009. Is there a way to write off that amount from my ordinary income? In other words, can I somehow take a deduction? The losses are from options which will likely expire worthless. I am self employed as a hospital consultant.

You can deduct up to $3000 a year against other income. The rest must be carried over and netted with NEXT year's trades.

And they aren't losses until they are sold, or actually expire.

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