Poll-Do You Have Capital Loss Carryforwards, Or Investments In A Loss Status?

[haha]

I thought this might give a good idea of any lingering effects of 2008-2009 on our portfolios.

I am happy to say that I have neither-I had realized gains in early to mid-2008, and I offset much of them with losses realized in late 2008. Currently my taxable account has no losing positions, which is kind of unusual and I think suggests that the market may be extended, regardless of what the pundits might say.

Ha

 

[Midpack]

We had an $8,604 loss in 2008, used our $3,000 limit in 2008, $3,000 in 2009 and remaining $2,604 in 2010. Not that I'm looking for another loss to work with...

 

[FIREd]

My capital loss carryovers from 2008-2009 are gone and no investment is currently showing a loss.

 

[travelover]

I just filed, took my 3000 and still have 30K to carry forward from TLH in 2008.

 

[Moemg]

I sold some stock pretty low so I still have five years left of capital loss carryovers . I know what was I thinking . It was along the line of Oh sh-t I might have to go back to work !

 

[VaCollector]

I can only hope that I have enough gains in the next 20 years to offset the
losses that I have secured

 

[freebird5825]

I accomplished the final pieces of a multi-year plan for portfolio consolidation and fund count reduction to eliminate some high expense ratio funds and simplify. I took $10K of capital loss. I used $3K for each of 2009 and 2010 tax returns. I have some remaining carryover loss to use for 2011.
I do not think I will need to do any TLH for 2011. Just letting things ride...

 

[LOL!]

I judiciously harvested every loss possible. I avoid selling at a gain in my taxable account. Overall, I have a few hundred thousand dollars in carryover losses.

I try to make sure I start every year with no unrealized losses. I do not want losses to be recovered by sitting on them. I want them harvested and used in the future.

See also http://www.early-retirement.org/forums/f28/asset-allocation-tutorial-31324-6.html#post583857

 

[Free To Canoe]

Still have $15k in losses to carry forward. Racked them up in 2008. Part of me realizes that they will be more valueable in the future but I would rather use them up. I was working on that in 2010 but I think I will not focus on that any more.

 

[KingB]

Took a 6000 loss in 2008, deducted 3000 and carried over 3000.
Took more losses in 2009, deducted 3000 and carried over 20000.
For 2010, I deducted 1400 and nothing carried over.

All investment are in the black (some lots are negative but DCA worked for me.)

 

[M Paquette]

Realize those losses, and carry them forward. After 2009, I doubt I'll ever pay capital gains tax again...

 

[TromboneAl]

I find this loss carryover system unnecessarily confusing and complex, so from now on I'm not going to have any losses.

 

[REWahoo]

I find this loss carryover system unnecessarily confusing and complex, so from now on I'm not going to have any losses.

Ahem.

Maybe you should concentrate on riding and practicing instead.

 

[braumeister]

Didn't do badly at all in the recent crunch, but alas, I still have a little unused loss from 2002. I learned my lesson from that one, and have been extremely defensive since then. With a 55% equity position, I'd better be defensive!

 

[steelyman]

This is an interesting poll. I voted "yes", but.... not because of '08 losses. Believe it or not, I am still in the process of writing off losses from back in the dot-com bust . How can that be? I was too naive to realize that hanging on to shares that had fallen to essentially nothing and not claim the losses was doing me no good at all. So I finally sold at a considerable drop in price in '07.

The stocks I had in '08 are now either above or close to even to where they were then.

 

[Dawg52]

I have enough loss carry forwards to last me for years. And I do have a couple of shipping stocks I'm holding at a loss.

 

[DblDoc]

I didn't get to add to them this past year but still have ~ $63k to carry forward.

DD

 

[jebmke]

Realize those losses, and carry them forward. After 2009, I doubt I'll ever pay capital gains tax again...

Same here. Spiraled my way down through the spring of 2009. In addition to booking all the losses I was able to consolidate a lot of things and simplify the basis into single lots.

 

[Sandhog]

I have $25K loss carryover for past 2 years on my own investment account. I didn't do anything with my 401K account but I panic with my own stock picks and one of them was VG, Vonage. I wanted to buy more when it was about 50 cents but was shell shock from free fall. I don't envy fund managers. Must be very a stressful job.

 

[donheff]

I realized some losses in taxable this year that I balanced with offsetting equity purchases in IRAs (not technically wash purchases). I took the $3K and passed another few K forward.

 

[jimnjana]

A completed the tax return of one veteran that had a 335k loss carryover. He told me that he bought and sold stocks based on the advice of his broker. I told him that I thought he was taking alot of risk for a gentleman his age (80ish). BTW this was the first year he did not do his own taxes. He said that he was happy with his portfolio and that he had amassed quite a net worth for not "knowing much" about stocks. He had been a fighter pilot in Korea and Vietnam and had bailed out of his aircraft three times. When he retired he was in a wheelchair and was told that he would never walk again. (he's walking just fine now)

 

[devans0]

I didn't have but a couple of thousand dollars of taxable money in one stock fund at the drop. I converted those to Roth IRA and then added to max out the Roth IRAs for us. I now have most (80%) of my taxable money in stock funds. The other 20% is scattered in super or mega or whatever savings accounts. It's the best return that I can find that I trust.
I think that fund managers have an easier time. After all, it's not their money.

 

[NW-Bound]

Still carrying some losses that I harvested in 2009. However, if I sell everything now, would have a nice, nice net gain that I will have to share with Uncle Sam.

 

[LOL!]

Consider two investors with taxable accounts of $1million on October 2007.

A. Sells everything on March 10, 2009 and incurs a $500,000 loss, but immediately buys $500,000 of similar, but not substantially identical securities to maintain her asset allocation.

B. Keeps her $500,000 portfolio intact on March 10, 2009 and does nothing.

Now in April 2011, both of their portfolios are now worth $1,100,000.

 

[NW-Bound]

A) I did not sell and buy at the same point; I sold steadily in mid 2008 to raise my cash and only started to buy back in late 2008 to mid 2009.

B) When I bought back, I bought different stocks, which I would like to think did better in the subsequent recovery than the ones I used to own. This is probably all fantasy, as I do not go back to see how the ones I sold fare relative to the ones I own now.