Free Investment Information » United States

What is the best way to handle large investment losses on my taxes?

admin — Sat, 27 Feb 2010 00:08:35 +0000

Ed R asked:

I really screwed up and have over $50,000 in investment losses this year! Our gross income from salaries for this year will only be around $50,000.

In addition, I lost $5000 in my Roth IRA. I just read that I can only deduct $3,000 in investment losses. Does that include IRAs PLUS regular investment activities?

Also, will any interest I accrue via CDs or dividends from stocks or mutual funds essentially be tax-free now since I have such a large investment loss? Or is that a different category?

Please help, I really screwed up this year and am hoping somebody has some suggestions to make this better. Thanks in advance!

How do I deduct investment advisory fees paid for professional investment services on my 2008 federal taxes?

admin — Sat, 06 Feb 2010 09:54:05 +0000

dar asked:

What form do I use?
Is there a limit to the fees (I payed about $8K for investment fees)?
Do the fees get bundled into other “deductoins” so that I have to meet a threshold of expenses?

Thanks all!

What kind of investment company is right for me?

admin — Wed, 06 Jan 2010 09:39:23 +0000

n k asked:

I’m doing well in stock market, I would like to open an investment company (home base business). There are many options, but I don’t know which one is the best for me.
I live in Pennsylvania; I also look for something that allows me to deduct the most from tax.

Do I have to pay capital gains taxes on international investments if I live in the US?

admin — Mon, 03 Nov 2008 13:25:19 +0000

screwed asked:

I am planning on making some investments outside the country (stock market investments). Can I access the profits while living in the US or will I have to pay capital gains taxes on it? If so, how much will I have to pay say for $10,000 in profits?

How can I reduce my tax payable income to save money in USA? Specific investments?

admin — Tue, 14 Oct 2008 05:07:34 +0000

ryahoo asked:

There may be certain govt bonds, investments that I can probably make ..but dunno. Buying a house.. heard that helps too .. but dunt know how.. so any advise on tax saving tips would be appreciated.

10K gift to reduce taxes from investments for non-working parents?

admin — Thu, 02 Oct 2008 11:00:59 +0000

vmsergei asked:

So my parents don’t work & got some cash stocked away in hi-yeld interest accounts. They made about 30K on their investments last year in interest income. What is the best way to reduce their taxes? Is giving 10K to their grandchild going to have an effect on their taxible income?

Do I need to pay self-employment tax on personal investments?

admin — Sun, 03 Aug 2008 01:41:48 +0000

illuminate asked:

I’m self employed, but aside from my business income, I have personal investments, which have produced gains of about $20K in 2007. Do I need to pay SE tax on that or just my business income? Thanks for your help.

Is a loss from a personal loan the same tax category as a loss from stock investments?

admin — Mon, 28 Jul 2008 03:52:01 +0000

Jan R asked:

I loaned a friend some money several years ago to help start a business, and the business failed and I was not repaid for the loan. I also, the same year, had losses from other investments (in the stock market). My understanding is that I can only deduct $3000 in investment losses for that year. Is the personal loan in the same category as the other investments — in other words, does it count as part of the $3000 limit? Or is there a way I can claim that loss separately? Thanks!