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In response to
"Don't I get to write off the loss when the price of stock I own plummets? -- nm"
by
Dr.Vermin
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When you *do* incur the loss you can deduct a maximum of $3,000 per year and any balance can be carried over.
Posted by
MojaveMeg (aka Mojave)
Feb 12 '09, 22:27
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Part of my tax planning this year was to sell some mutual fund shares at a loss in December, then in January re-invest the money in a Roth IRA.
Instant $3000 tax deduction.
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