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Newspaper
Tucson Citizen
Location
Tucson, Arizona, United States of America
Date
Nov 23, 1977
Page
2
This banking era guide outlines year end moves for securities losses and gains. It explains using loss carryovers, offsetting gains with long term losses, and how holding periods affect tax treatment for sells in December 1977 versus January 1978. It covers strategies for both net gains and net losses with concrete offsets and timing guidance.
Sylvia Porter explains stock losses and tax timing. Short-term losses before year end are more valuable in 1978 than long-term losses delayed to 1977. Net losses offset up to 3000 dollars of ordinary income in 1978, with unused losses carried over under 1978 rules.
Financial columnist Sylvia Porter will be awarded the William Allen White Foundation prize at a KU luncheon on Feb 10 in Lawrence. Porter is honored for service to the profession and country, praised for clarity of style and reader identification, likened to a White House tradition.
Officials in Hyderabad report the death toll from a powerful cyclone may exceed 15,000 with cholera outbreaks feared. The storm cut electricity and water, flooded 1.5 million acres of crops, and left about 100,000 people homeless after 90 mph winds and an 18 foot tidal surge.
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