Posted by Geo-TH,In on January 04, 2016 at 06:00:09 from (172.78.83.122):
In Reply to: Re: Stocks posted by Old bob. on January 03, 2016 at 19:11:10:
My broker recommended energy stocks. Down 10% for the year. He too said it has to come back up in time. Good thing I only put a little money there. However when it comes to a loss can be turned into a profit.
In 2008 one of my investments was down 50%. I sold it, took $45k loss. Invested remaining money back in the market, different stock. It's back to where it was pre 2008. Each year my CPA can write off $3k loss on my taxes. For me that transulates into about $1000 a year I'm not paying in income taxes. So a loss can have some advantages, just can't put your money back in the same stock you sold for 90 days.
Talk to your CPA, a capital loss can be taken off your taxes at $3k a year. So if you are not happy with your stock, sell it for a loss and re-invest in something different.
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