Comments on: Lose Money And Pay Taxes – Time To Get Rid Of Your Mutual Funds? http://www.moolanomy.com/1079/lose-money-and-pay-taxes-time-to-get-rid-of-your-mutual-funds/ Personal Finance. Investing. Wealth Building. Sat, 20 Mar 2010 00:04:39 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Year End Tax Moves | Cash Money Life http://www.moolanomy.com/1079/lose-money-and-pay-taxes-time-to-get-rid-of-your-mutual-funds/comment-page-1/#comment-19250 Year End Tax Moves | Cash Money Life Mon, 22 Dec 2008 10:54:23 +0000 http://www.moolanomy.com/?p=1079#comment-19250 [...] Avoid mutual funds with high capital gains distributions. Capital gains distributions equal taxes, even if your fund lost money. [...] [...] Avoid mutual funds with high capital gains distributions. Capital gains distributions equal taxes, even if your fund lost money. [...]

]]> By: Jeff Rose http://www.moolanomy.com/1079/lose-money-and-pay-taxes-time-to-get-rid-of-your-mutual-funds/comment-page-1/#comment-19237 Jeff Rose Sun, 21 Dec 2008 23:17:58 +0000 http://www.moolanomy.com/?p=1079#comment-19237 @ Kitty. Your absolutely right on both. With BRK.B, you obviously have less voting rights. I think it's more of a bragging right to own BRK.A. Here's a story I found that has more info on the difference between the two shares: http://socialize.morningstar.com/NewSocialize/asp/FullConv.asp?forumId=F100000079&convId=175721 On the capital loss rule, yes just $3k per year. Sorry, should have mentioned that. It does carry over until you exhaust it. I've had many clients not only take the loss this year but sell off enough to carry the loss over for next year. My optimistic view is to not take the loss, but rather offest any gains....come on bull market! @ Kitty. Your absolutely right on both. With BRK.B, you obviously have less voting rights. I think it’s more of a bragging right to own BRK.A. Here’s a story I found that has more info on the difference between the two shares: http://socialize.morningstar.c.....vId=175721

On the capital loss rule, yes just $3k per year. Sorry, should have mentioned that. It does carry over until you exhaust it. I’ve had many clients not only take the loss this year but sell off enough to carry the loss over for next year. My optimistic view is to not take the loss, but rather offest any gains….come on bull market!

]]> By: kitty http://www.moolanomy.com/1079/lose-money-and-pay-taxes-time-to-get-rid-of-your-mutual-funds/comment-page-1/#comment-19231 kitty Sun, 21 Dec 2008 16:39:22 +0000 http://www.moolanomy.com/?p=1079#comment-19231 One other thing regarding selling to reduce taxes. Keep in mind that while you can apply all of your losses to reduce your capital gains, if you have a net loss, you can only deduct up to $3000 a year from taxes. The rest has to be deferred to the following year. One other thing regarding selling to reduce taxes. Keep in mind that while you can apply all of your losses to reduce your capital gains, if you have a net loss, you can only deduct up to $3000 a year from taxes. The rest has to be deferred to the following year.

]]> By: kitty http://www.moolanomy.com/1079/lose-money-and-pay-taxes-time-to-get-rid-of-your-mutual-funds/comment-page-1/#comment-19230 kitty Sun, 21 Dec 2008 16:35:38 +0000 http://www.moolanomy.com/?p=1079#comment-19230 Jeff Rose - unless I am mistaken BRK.B is really the same as BRK.A divided by 30. So if their pick is BRK.A, everything they say applies to BRK.B as well. When BRK.A goes up, BRK.B goes up by the same percentage. Same when it goes down. Jeff Rose – unless I am mistaken BRK.B is really the same as BRK.A divided by 30. So if their pick is BRK.A, everything they say applies to BRK.B as well. When BRK.A goes up, BRK.B goes up by the same percentage. Same when it goes down.

]]> By: Jeff Rose http://www.moolanomy.com/1079/lose-money-and-pay-taxes-time-to-get-rid-of-your-mutual-funds/comment-page-1/#comment-19222 Jeff Rose Sun, 21 Dec 2008 04:32:50 +0000 http://www.moolanomy.com/?p=1079#comment-19222 @pinyo and patrick You both have me really seriously considering Brk.B. I actually was just reading an investment journal interviewing a deep value manager and their strategy going forward. One of their top picks....good ol' Berkshire. I assume its the A not B. One day boys, one day will be talking about our A share. @pinyo and patrick

You both have me really seriously considering Brk.B. I actually was just reading an investment journal interviewing a deep value manager and their strategy going forward. One of their top picks….good ol’ Berkshire. I assume its the A not B. One day boys, one day will be talking about our A share.

]]> By: Patrick http://www.moolanomy.com/1079/lose-money-and-pay-taxes-time-to-get-rid-of-your-mutual-funds/comment-page-1/#comment-19221 Patrick Sun, 21 Dec 2008 04:14:10 +0000 http://www.moolanomy.com/?p=1079#comment-19221 My plan is to liquidate the mutual funds in my taxable account as well. I think I will need to take a loss to reduce my taxes. I might just buy some BRK.B also. ;) My plan is to liquidate the mutual funds in my taxable account as well. I think I will need to take a loss to reduce my taxes. I might just buy some BRK.B also. ;)

]]> By: Weekly Round Up-Christmas is Upon Us http://www.moolanomy.com/1079/lose-money-and-pay-taxes-time-to-get-rid-of-your-mutual-funds/comment-page-1/#comment-19214 Weekly Round Up-Christmas is Upon Us Sat, 20 Dec 2008 19:45:26 +0000 http://www.moolanomy.com/?p=1079#comment-19214 [...] but not least, Moolanomy had a great post on losing money and possibly having to pay taxes this year because of capital gain distributions.  Very good read and strongly [...] [...] but not least, Moolanomy had a great post on losing money and possibly having to pay taxes this year because of capital gain distributions.  Very good read and strongly [...]

]]> By: Your Money Relationship - Friday Feed Frenzy - Auto Shutdown Edition http://www.moolanomy.com/1079/lose-money-and-pay-taxes-time-to-get-rid-of-your-mutual-funds/comment-page-1/#comment-19201 Your Money Relationship - Friday Feed Frenzy - Auto Shutdown Edition Fri, 19 Dec 2008 13:06:48 +0000 http://www.moolanomy.com/?p=1079#comment-19201 [...] Jeff at Moolanomy shows you how you can lose money in this economy and still pay taxes. [...] [...] Jeff at Moolanomy shows you how you can lose money in this economy and still pay taxes. [...]

]]> By: Pinyo http://www.moolanomy.com/1079/lose-money-and-pay-taxes-time-to-get-rid-of-your-mutual-funds/comment-page-1/#comment-19195 Pinyo Thu, 18 Dec 2008 15:09:14 +0000 http://www.moolanomy.com/?p=1079#comment-19195 @Jeff -- Good article. I agree with your assessment about this is being the year where investors will get hit with both paper losses and capital gains distributions. In fact, I have taken advantage of the market down turn and liquidated my mutual funds positions in my taxable account. At this point, I am just replacing them with BRK.B for the time being until I can get my arms around what I really want to go in there. @Jeff — Good article. I agree with your assessment about this is being the year where investors will get hit with both paper losses and capital gains distributions.

In fact, I have taken advantage of the market down turn and liquidated my mutual funds positions in my taxable account. At this point, I am just replacing them with BRK.B for the time being until I can get my arms around what I really want to go in there.

]]> By: Letter To Clients: Capital Gain Distributions http://www.moolanomy.com/1079/lose-money-and-pay-taxes-time-to-get-rid-of-your-mutual-funds/comment-page-1/#comment-19192 Letter To Clients: Capital Gain Distributions Thu, 18 Dec 2008 07:00:39 +0000 http://www.moolanomy.com/?p=1079#comment-19192 [...] Also check out: Moolanomy: Lose Money and Pay Taxes [...] [...] Also check out: Moolanomy: Lose Money and Pay Taxes [...]

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