So...who is having fun watching their investments bounce around?

[alcoholbob]

Sometimes you can win by selling low. Betterment has emailed me twice saying that they did "tax loss harvesting" for me. Basically they sell an asset at a loss, allowing me to claim that loss on my taxes, and then buy and hold a similar asset. It can't be identical because of something called a "wash sale" rule, but I guess it's close enough without being too close.

I think you can pretty much buy anything as long as it's not the exact same security for 31 days. You can even buy the same company's bonds or preferred shares if you sell the common stock at a loss.

 

[PlanetJosh]

The dividend income I get from mutual funds is still doing ok. I'm guessing for dividends to go down a lot it would take a much bigger drop in the markets. I hope I'm right about that. So just holding now waiting for a year end recovery. Exception is I'm using 5% of my worth trying to make money timing the stock AMD, yeah the AMD of the video card and CPU forums here.

 

[Red Squirrel]

Sometimes you can win by selling low. Betterment has emailed me twice saying that they did "tax loss harvesting" for me. Basically they sell an asset at a loss, allowing me to claim that loss on my taxes, and then buy and hold a similar asset. It can't be identical because of something called a "wash sale" rule, but I guess it's close enough without being too close.

Interesting, did not know you could claim stock losses on your taxes. Wonder how that works, would you just screen capture your account info with values and give it to your tax person? I've never received any kind of forms in the mail for my stocks so I would not really know where to begin. My stock account is a TFSA though so maybe all that does not apply to me.

 

[Dr. Detroit]

Interesting, did not know you could claim stock losses on your taxes.

You can deduct up to $3K a year of investment losses against ordinary income each year - or you can use your losses against your investment gains if you have those for the year. Investment losses roll forward until they are exhausted.

All of this information is included on your annual brokerage statement. You will need Turbo Tax Premier to deal with your investments. You can direct import these.

 

[IronWing]

You can deduct up to $3K a year of investment losses against ordinary income each year - or you can use your losses against your investment gains if you have those for the year. Investment losses roll forward until they are exhausted.

All of this information is included on your annual brokerage statement. You will need Turbo Tax Premier to deal with your investments. You can direct import these.

He's Canadian.

 

[Exterous]

You can deduct up to $3K a year of investment losses against ordinary income each year - or you can use your losses against your investment gains if you have those for the year. Investment losses roll forward until they are exhausted.

All of this information is included on your annual brokerage statement. You will need Turbo Tax Premier to deal with your investments. You can direct import these.

You can do it with TurboTax deluxe too

 

[Red Squirrel]

I get someone else to do my taxes I have no clue about this stuff. Not an accountant, I took computer science, I leave the accounting to the pros. Only thing I would still need to have some kind of info to give to my tax person. But yeah I don't think it applies to me as my stocks are part of a TFSA. For my ESPP I do get a T5 and T3 form in the mail so that handles the tax stuff.

 

[Ken g6]

Interesting, did not know you could claim stock losses on your taxes. Wonder how that works, would you just screen capture your account info with values and give it to your tax person? I've never received any kind of forms in the mail for my stocks so I would not really know where to begin. My stock account is a TFSA though so maybe all that does not apply to me.

If you don't get a Form 1099-B, my advice doesn't apply to you.

Though I probably shouldn't kid too much. One of these days I'm likely to inherit some Canadian stock from my parents.

 

[Exterous]

If you don't get a Form 1099-B, my advice doesn't apply to you.

Though I probably shouldn't kid too much. One of these days I'm likely to inherit some Canadian stock from my parents.

Two barrels of maple syrup and a moose?

 

[brianmanahan]

currently down about 1-1.5 years of salary

 

[Red Squirrel]

Holy crap our corporate shares tanked by like over 10 bucks, from 60 something to 50. Back to 55 at last close though, my ESPP page is usually behind. 55 is still very low, they're usually at like 63-65ish.

Shows my savings at 26k dollar wise and before all this I was around 31k. Too bad this was not a pay day week though, would have bought in at 50. I assume it comes out every pay on the same day... but not sure tbh.

Not worried though it just means it's a bad time to cash in anything. Everything will bounce back up eventually.

I get a good chuckle picturing the suits at Wall St completely losing their minds over this though.

 

[blackangst1]

Im a ways away from needing retirement, so Im not worried. Didnt change any of my investments.

Dollar cost averaging FTW.