Reminder: tax write off on stock losses by 12/31
 

Just a reminder for all those holding short.
You can write off $3k of stock loss for personal income tax purpose but must sell by end of year.
I just took mine.. sucks but i guess the tax write off is a small band aid, and you can always buy the same stocks again on jan 02 at a much lower price and feel good about it again:winkwink:

i believe you have to wait 30 days before buying the same stock

i didnt know.. thanks for the information, i am planning to buy some of the same stocks again.
you'd be nuts not to buy stocks nowadays if you have free cash.

:1orglaugh

good thing you know now

Don't forget to check your mutual funds for estimated capital gains as well so you can sell the right amount of stock to offset the taxes on said gains.