Another accounting/tax question (Capital losses)

[red sky]

Just a quick question relating to capital losses for stocks. Is there a limit for the number of years that you can hold a stock before you cannot use it against your taxes if you decide to sell? For example, if I bought a stock in 2003 and sold it today, could I still claim that as a capital loss? If so, I can claim it back 3 years, correct?

I guess that was two questions, TIA.

[MoneyGuy]

No limit. It can be carried back three years and forward indefinitely. Your stock can be owned indefinitely before selling.

[red sky]

Thanks MG, that is what I figured but I wasn't certain. Time get rid of some of those bad investments that I keep 'waiting' to recover.

[Slava]

The only other consideration (which you probably know, but just to be sure) is that you can only apply the capital losses against capital gains.

[red sky]

Yup, I am aware. Last year was a pretty good year but I wasn't willing to sell stock in some companies at the time. I will mostly put those towards last years capital gains... and some of this years as well I suppose. Time to clean up the portfolio.