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CD gains/Equities Loss Tax Question
Old 12-30-2008, 01:32 PM   #1
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CD gains/Equities Loss Tax Question

Can your investments losses offset the interest gained of a CD during tax time?

Sorry if this question has been asked, but I didn't find it in search.

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Old 12-30-2008, 01:37 PM   #2
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Your investment losses can offset up to $3,000 worth of ordinary income per year, including interest income.

42 y/o, married, retirement portfolio = 43 x annual expenses
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Old 12-30-2008, 01:40 PM   #3
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Up to $3K of your investment losses can be used to offset income, including CD interest income.

Perhaps one of the professionals on the board will confirm this?
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Old 12-30-2008, 01:42 PM   #4
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So, cd interest is considered ordinary income. Bummer
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