• Answers
  • Web
Personalize Yedda, (And make Danny Happy)
People ask & answer about almost everything. Tell us what you're interested in... So we can personalize Yedda especially for you
I'm interested in:
Save
Cancel
Originated from
WalletPop

I have lost $37,000.00 of money saved in the stock ...

I have lost $37,000.00 of money saved in the stock market via mutual funds decline.  Can this money loss be applied against personal income such as wages, bank interest.  Is there a way that I can make good on it and use the loss constructively?  Would appreciate any help that you can give to me. bufeustace@aol.com

 


Answer this question

Topics:

Share Send to a friend Watch Report
 

Featured Answer by WalletPop's Tracy L. Coenen

 
137 answers
24 helpful answers

Tracy L. Coenen is WalletPop's Tax Expert and Fraud Expert

 

 

Have you actually sold the mutual funds? If you haven't sold them, you can't take a deduction. If you have sold them, creating a "realized" loss, then you can deduct at least part of the loss. You can use the loss to offset any capital gains you had for the year, and also deduct an additional $3,000 in losses. The remainder of the losses will have to be carried over to future years and deducted then.
Posted 2008-11-19T23:12:40Z
Helpful?(0)
Rated #1 out of 1

 

Sign in to participate

Got an answer for Ann Norman? Would you like to comment on the posted answers, or vote for the one which you think is the best?

Sign up for a free account, or sign in (if you're already a member).

Explore Related Questions

Other people asked questions on similar topics, check out the answers they received:


Q:

Buying tax deeds

if i buy a tax deed in texas am i responsible for the morgage note if the deed is not redeemed ? Would a morgage holder actually ...
Submitted by dray   11 months ago.
  • 1 answer
  • viewed 185 times
Last answer posted 13 days ago by Targetlaw
Asked about "Tax Liens vs Tax Deeds"


Q:

From what age can you file a tax return in the ...

From what age can you file a tax return in the US?
Submitted by Sky11   2 years ago.
  • 4 answers
  • viewed 985 times
Last answer posted 19 days ago by cd rates


Q:

Tax Liens

Would Tax Liens Investing be considered a job or hobby etc?
Submitted by melpomene   1 year ago.
  • 2 answers
  • viewed 230 times
Last answer posted 4 months ago by Eva Norris, enrolled agent
Asked about "Tax Lien Investing Faqs"



» More...

Explore Related Posts in Forums

State Government Complaint - States Should Not Raise Taxes During This Re...

Raising property taxes to cover the shortfall. Although I have no children, I never objected that a large portion of my property taxes went to public schools. Now that we are in a recession in public schools should pay higher school taxes than people who have no children. I would add that people

Less taxes my rear. Now more taxes by Obama for the ave. of $55,000.00 a ...

About $55,000.00 a year per household. The recent tax hike puts cigs at about $5.00 a pack depending households is $55,000.00 a year so whats he do raise the tax on their cigs. Not so good for a President . So if there are taxes put on cigs I could care less. Im not affected by it.

Let's Cut Cap-Gains Taxes on Auto Investments

Let's Cut Cap-Gains Taxes on Auto Investments ," by Jared Polis. posting. to post online. should not interfere in markets they do not understand.Cutting cap-gains taxes on Auto investments taxes will be enough to keep them running! It can be really risky and I don't believe
» More...
Powered by
Feed - Subscribe to changes to this Q&A Blog

Latest blog posts on WalletPop

Election Day exit polls prove it's still...

Filed under: Wealth , Relationships , Recession , Retirement-401(k) Despite mainstream media predictions about the election hinging on the president's performance, it appears as though the economy was a much greater factor in the two key gubernatorial races yesterday. The economy was the anvil that crushed the chances of Democrats Jon Corzine and Creigh Deeds. According to exit polls in Virginia and New Jersey , around 90% of voters said that they're concerned about the economy, while only around 18% said that their vote had anything to do with President Obama's performance so far. Continue reading Election Day exit polls prove it's still 'the economy, stupid' Election Day exit polls prove it's still 'the economy, stupid' originally appeared on WalletPop Blog on Wed, 04 Nov 2009 20:00:00 EST. Please see our terms for use of feeds . Read | Permalink | Email this | Comments

Bad actors continue to prey on seniors

Filed under: Banks , Borrowing , Home , Insurance , Real Estate , Retire , Fraud , Mortgages Bad actors have solidly shifted their attention to reverse mortgages, causing a top consumer organization to warn seniors to choose such loans carefully. A new report by the National Consumer Law Center likens the aggressive lending practices in today's reverse mortgage lending to those common in the sub-prime mortgage heyday -- featuring some of the same players. "Well-funded marketing campaigns and perverse incentives to brokers are targeting seniors' home equity and using reverse mortgages as their tools," attorney Tara Twomey said in the NCLC news release .Continue reading Bad actors continue to prey on seniors Bad actors continue to prey on seniors originally appeared on WalletPop Blog on Wed, 04 Nov 2009 17:00:00 EST. Please see our terms for use of feeds . Read | Permalink | Email this | Comments

Hedge fund honcho wins $27 million tax...

Filed under: Tax Billionaire hedge fund manager Julian Robertson won a $27 million tax case after convincing a a judge that he wasn't a resident of New York City in the year 2000 -- and it all came down to four days. The way the law works is that anyone who spends more than half the year living in New York City is subject to the jurisdiction's taxes -- in 2000, the top tax rate was 3.78%, meaning that Mr. Robertson must have earned around $700 million in the year 2000. The New York State Department of Taxation and Finance argued that because he couldn't provide proof that he didn't spend more than half the year in New York City, he had to pay the tax. Robertson and his lawyers, family, and his assistants spent countless hours pouring over schedules, calendars, tickets, etc. to convince a judge that he spent less than half the year in NYC proper -- with a good chunk of the rest of his time spent on Long Island. Continue reading Hedge fund honcho wins $27 million tax fight with NYC Hedge fund honcho wins $27 million tax fight with NYC originally appeared on WalletPop Blog on Wed, 04 Nov 2009 16:30:00 EST. Please see our terms for use of feeds . Read | Permalink | Email this | Comments

Recession giving people a lot more to worry...

Filed under: Recession Through no fault of their own, the recession is giving people more reasons to worry. Along with the constant worries of death and taxes, the recession is adding worry lines over keeping a job, finding a job, paying bills, affording necessities such as food and shelter, and other basic needs in the first two stages of Abraham Maslow's "Hierarchy of Needs." Continue reading Recession giving people a lot more to worry about Recession giving people a lot more to worry about originally appeared on WalletPop Blog on Wed, 04 Nov 2009 16:00:00 EST. Please see our terms for use of feeds . Read | Permalink | Email this | Comments

Coming to a bank near you: Person-to-Person...

Filed under: Personal loans Lending money to kids away at college or family members in need just got a little easier. Today Fiserv , a global provider of financial technology services, announced plans for a new Person-to-Person, or P2P service that will enable the quick transfer of funds between individuals. This service will be made available to the more than 3,100 financial institutions in the Fiserv network. According to a Fiserv survey conducted in June 2009, demand for this service is substantial. Seventy percent of the survey's respondents expressed interest in this type of service, with three out of four saying they'd prefer to have access to P2P at their own financial institutions rather an outside source such as Lending Club and 83% said it's important for money to be deposited directly into a recipient's bank account, as opposed to being funneled through a third party system. Continue reading Coming to a bank near you: Person-to-Person lending Coming to a bank near you: Person-to-Person lending originally appeared on WalletPop Blog on Wed, 04 Nov 2009 15:30:00 EST. Please see our terms for use of feeds . Read | Permalink | Email this | Comments

Recession tales: Housing bust has improved...

Filed under: Home , Real Estate , Recession Once upon a time, two or three years ago, when the housing market was robust and homes sold in a matter of days, people seemed to move a lot. Or ,even if they didn't move, they thought they might. Everything seemed so temporary. We had "starter homes" and people were "trading up." Homes were financial investments rather than investments in something far less tangible -- our community. If there's one side effect of the recession that warms my heart, it's the fact that people are less mobile, less likely to move so much. Homes aren't selling, employers aren't recruiting and paying relocation costs at the same high rates, and people are settling into their homes with the knowledge it's going to be awhile before moving becomes an option. Continue reading Recession tales: Housing bust has improved sense of community Recession tales: Housing bust has improved sense of community originally appeared on WalletPop Blog on Wed, 04 Nov 2009 15:00:00 EST. Please see our terms for use of feeds . Read | Permalink | Email this | Comments

Black Friday: Kmart's 40 page ad leaked --...

Filed under: Bargains , Shopping , Black Friday Another day, another Black Friday ad leaked and viewable online for your Black Friday planning pleasure . This time Kmart's 40 page Black Friday ad has leaked, revealing exactly which toys, electronics and other goods will be getting special Black Friday pricing. Invoking their famous Blue Light Specials, Kmart is celebrating the day of shopping with "Blue Friday" deals from 6-11 a.m.Continue reading Black Friday: Kmart's 40 page ad leaked -- toys and video games on sale Black Friday: Kmart's 40 page ad leaked -- toys and video games on sale originally appeared on WalletPop Blog on Wed, 04 Nov 2009 14:45:00 EST. Please see our terms for use of feeds . Read | Permalink | Email this | Comments

Podcast: Networking tips while your company...

Filed under: Career , Recession On this week's "Your Job Will Come" podcast, WalletPop's Aaron Crowe talks with branding and networking expert Thom Singer about how to network while you're company is undergoing layoffs, and how to network after losing a job. Among the tips are staying positive, networking early and not saying anything bad about your company after a layoff. Podcast: Networking tips while your company undergoes layoffs originally appeared on WalletPop Blog on Wed, 04 Nov 2009 14:30:00 EST. Please see our terms for use of feeds . Read | Permalink | Email this | Comments

Leaving Verizon Wireless to get more...

Filed under: Shopping , Technology Leaving your wireless carrier can be an expensive undertaking, and starting Nov. 15 it's about to get more expensive for users of smartphones like the Motorola Droid , Blackberry Storm 2 and other "advanced devices" on the Verizon Wireless network. While employees have been ordered not to talk to customers about the change, starting on Nov. 15, the Early Termination Fee (ETF) for these devices will increase from $175 to $350 . According to a leaked document the higher ETF, "fairly reflects the higher costs associated with offering feature rich advanced devices to customers at attractive prices."Continue reading Leaving Verizon Wireless to get more expensive Nov. 15 Leaving Verizon Wireless to get more expensive Nov. 15 originally appeared on WalletPop Blog on Wed, 04 Nov 2009 14:15:00 EST. Please see our terms for use of feeds . Read | Permalink | Email this | Comments

Toys R Us pop-up stores bring big deals

Filed under: Bargains , Saving Money , Shopping Toys R Us is popping up all over, with Holiday Express Shops now open in 2,500 Babies R Us stores. To celebrate, the retailer is already hosting holiday sales. There will be coupons, gifts with purchases and daily specials through Nov. 25, while supplies last. Continue reading Toys R Us pop-up stores bring big deals Toys R Us pop-up stores bring big deals originally appeared on WalletPop Blog on Wed, 04 Nov 2009 14:00:00 EST. Please see our terms for use of feeds . Permalink | Email this | Comments

Suze Orman says: Switch to a credit union!

Filed under: Banks In an interview with KMBC's Donna Pitman , First Lady of Personal Finance Suze Orman trashed the big banks for inexplicable fee and interest rate hikes on consumers -- and offered a ringing endorsement of credit unions. "Don't get me started with these credit card companies, these banks -- it's like, 'What are they thinking?'" Orman said. "Here's the answer: Credit unions," she said. "They are different than banks. Most banks are owned by their shareholders. They're responsible to these shareholders and it happens to be on the stock exchange, so anything to increase earnings and profits. Credit unions have members. They're responsible to the members. So, many credit unions -- not all -- are giving you no balance-transfer fees, low interest rates. They're being ethical and honest." Another key advantage to working with a credit union instead of Chase, Bank of America, or Citi, is that most credit unions are not staffed by the dumbest people you will ever meet in your entire life -- which matters when your financial well-being is on the line. To find a credit union in your area, visit the National Credit Union Administration's credit union locator .Suze Orman says: Switch to a credit union! originally appeared on WalletPop Blog on Wed, 04 Nov 2009 13:30:00 EST. Please see our terms for use of feeds . Read | Permalink | Email this | Comments

COBRA coverage for unemployed may be extended

Filed under: Insurance , Career , Health , Insurance-health If you lost your job, right now you can get a 65% subsidy from the government to help pay for a continuation of your health benefits under COBRA for nine months. The Consolidated Omnibus Budget Reconciliation Act may be a weird name for a bill about health insurance, but it's basically the law that requires companies to let people pay to remain on their group health insurance plans for at least 18 months. But that could end shortly. Congress passed the 65% subsidy as unemployment rose in this country, but it's due to expire Dec. 31. A bill to extend the subsidy for a total of 15 months was introduced last week by Rep. Joe Sestak, D-Pa. Originally, the subsidy was available for nine months. So someone who began collecting the subsidiary on March 1 would run out of help at the end of November. Continue reading COBRA coverage for unemployed may be extended COBRA coverage for unemployed may be extended originally appeared on WalletPop Blog on Wed, 04 Nov 2009 13:00:00 EST. Please see our terms for use of feeds . Read | Permalink | Email this | Comments

Only in Paris: Smoking and chocolate combined

Filed under: Food , Home , Shopping Chocolate lovers have a reason to celebrate. David Edwards, a professor of biomedical engineering at Harvard University, has developed an alternative to the pesky wrappers keeping chocoholics from enjoying a delicious indulgence: "Le Whif ." Edwards' "Whif" is an inhaler that puffs micro-particles of calorie-free cocoa bliss into your mouth that's exceeded the inventor's wildest expectations. Le Whif isn't lasting long on stores shelves, with its initial production run of 25,000 selling out in a few weeks last May in Paris. "We did not imagine the reaction that we got at the end of the spring," Edwards said in a Reuters story on CNBC. Women seem to be "Whif's" biggest fans, stashing the inhaler in their purses to satisfy anytime chocolate cravings. Continue reading Only in Paris: Smoking and chocolate combined Only in Paris: Smoking and chocolate combined originally appeared on WalletPop Blog on Wed, 04 Nov 2009 12:30:00 EST. Please see our terms for use of feeds . Read | Permalink | Email this | Comments

Recession tales: The price of growing old...

Filed under: Retire , Recession , Retirement-401(k) , Retirement-403(b) , Retirement advice I just bought my airline ticket for my friend's 100th birthday party, which she's anticipating with considerable excitement. Life has been quiet since she gave up competitive ballroom dancing at 85. Planning a party spices things up. The oil wells that my friend's husband left her have kept her lifestyle comfortable - until the last couple of years when she developed a need for 24-hour care after the car she was riding in was broadsided. Even a couple of active oil wells don't gush enough money to cover all the expenses of extreme aging. My friend and her children, who are old enough to be contemplating their own retirements, can see the day when it is all going to run out. If mom's still around - and the doc says she very well could be - longevity is going to be an expensive problem.Continue reading Recession tales: The price of growing old in a lousy economy Recession tales: The price of growing old in a lousy economy originally appeared on WalletPop Blog on Wed, 04 Nov 2009 12:00:00 EST. Please see our terms for use of feeds . Read | Permalink | Email this | Comments
» More...
Powered by
ADVERTISEMENT
  • Answers
  • Web
Copyright © 2006-2009, Yedda Inc. and respective copyright owners · CC License