Stocks...FINALLY timed it right!

the key is, at the end of the year, do you claim a $3000 decution on your income tax, or pay uncle sam. If it is the latter then you are oneof the fortunate 5% who make money in the market. The rest of us are in the 95% that lose money. Wait till next year

 

Could someone elaborate on this for me?



-DC

 

$3,000 is the maximum investment loss that you can claim each year against your ordinary income on your tax return. You can carry forward losses and use them up at $3K/year, not sure if they expire though.

John

 

while NOL's can be carried forward a maximum (after what I recall) 20 years, realized personal losses do not expire, but are as you say, limited to a $3K deduction per year.

 

Hmm, any limitations to the type of "investment" ?



-DC

 

dude, u need a new stock broker!

 

But what kind of yearly % returns have you been getting on your portfolio? Seems pretty telling that among the Forbes list, there's people who are LTBH but no daytraders.

 

I love timing it right...but hate timing it wrong.
If you'll check out a chart GZFX i bouight in when it was aroung 5 cetns at the dip last month. That was a nice one
then theres Alcoa (AA) bought that one on tuesday only to have earnings not meet analysts expectaions (they were up ALOT from last year, but this wasnt good enough) so it went down a few %.

 

The real money on wall st. is made trading stocks and doing it against the public. A perfec example the 800 pound gorilla Goldman sachs just reported very good earnings and one of the reasons given for those earnings was income from trading stocks.