short-term gain 2007, short-term loss 2008

[what-a-guy]

On last year's (2007) taxes, I paid a good chunk of tax on the short-
term gains of a stock. In 2008, there was a short-term
loss equaling 2007's gain. I'd love to somehow get back some of those
previous taxes. Is there a way, or am I out of luck?

[ed]

On Dec 24, 3:57 pm, what-a-guy <reginald.wayne.richa...@gmail.com>
wrote:

I wish there were too, but alas Net Operating Loss carrybacks
specifically exclude capital lossss on the trading of securities. I
wish they'd bail out us dummies like they did for the gamblers that
lost on their company stock options.. They optioned stock for a
pittance and their only loss was the AMT, and now they are getting
that back.. (Note that the people who invested directly in that stock
had it all at risk and lost it all). And they are reworking mortgages
for people who gambled on their reset rate to decliine instead of
going up, and their house value to keep inflating instead of
crashing, And the banks that gambled on the dirivitives they
couldn't understand. Next thing they'll probably bail out Madoff's
investors. But nothing so logical as to carry-back capital losses.

ed