Wealth

Tax Loss Selling

Tax Loss Selling featured image

It can be hard to focus on your portfolio at this time of year, but there are some things you have to take care of before the end of the year. If you have some under-performing stocks, you should consider tax loss selling. It will allow you to use your loss to offset capital gains tax on stocks that made you money. You can apply the loss going back three years. Still some investors have trouble getting rid of their dogs.
Patricia Lovett-Reid is a Vice President at TD Asset Management:

“If you don’t get rid of your dogs, there’s an opportunity cost – the money could be better spent, or allocated to something that has the potential to do better. Now if you’re going to do to that in order to qualify for the 2007 taxation year, trades must be settled by December 31st – so that means on the TSX you have to make the decision by December 24th, and December 26th on the US exchanges.”

Year-end is also the deadline for charitable contributions for this tax year, as well contributions to a registered education savings plan.

Listen on the Go

Download Apps
Download Apps
Download Apps
Request
Anti Noise Pollution
Film Reviews with Marc Glassman
Request
Sister Station - Zoomer Radio

Recently Played