Investment Portfolio
Updated: January 7, 2009
With less than two weeks left in 2005, this may be the ideal time to check your investment portfolio for those great ideas that didn`t work out and consider trimming your tax bill by selling them for a loss.
How do you benefit from selling securities for a loss?
Must have owned the securities for 12 months.
Long-term losses offset long-term gains.
Losses can offset up to $3,000 in ordinary income.
Excess losses can be carried forward to future years.
