Realized Loss

[corey r.]

If you sell a mutual fund at a loss, can you write that off at the end of the year?

[_Chris_]

nope, losses aren't write offs from what i understand, only gains count... which just seems wrong. :lol:

[Charles]

If you sell a mutual fund at a loss, can you write that off at the end of the year?

Yes.....

http://www.turbotax.com/articles/YourInvestmentLossesCanBeTaxGains.html

[corey r.]

Thanks Charles. Good info on wash sales too.

Tech Center fo' life nigga!

[moldyhands]

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[corey r.]

but you can use those capital losses to offset any capital gains you may have had this year, or up to $3,000 in ordinary income. In essence, the money you lost can become a tax gain.

I can write up to 3k off against ordinary income, then save the rest for a following year.