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OT: IRS and Capital Loss Carry-over question
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Posted by MI-Roger [Email] (#882) [Profile/Gallery] (more from MI-Roger) on Mon, 14 Dec 2009 15:59:58 Share Post by Email
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In 2008 my investments generated a sizeable capital loss, of which I could only declare the maximum loss of $3,000 on my 1040. Things in 2009 have been much better and a single investment has gained by an amount approximately equal to half of my 2008 to 2009 carry-over amount. This investment appears to have plateaued, so I feel I should sell it and re-invest elsewhere.

My questions are:
Is there any distinct tax advantage or disadvantage to sell in late 2009 or early 2010?

Do I run risk of losing my Capital Loss Carry-over if I do not use it in 2009? The 2009 Schedule D Instructions do not identify a maximum number of years that loses can be carried over, but tax code is constantly changing.

Thanks,

posted by 24.23.71... 
_______________________________________
Saabs owned:
2008 9-5 Aero Sedan, sold at 227K miles
2006 9-3SC 2.0T - Wife's daily driver
2000 Viggen Convertible - Sold May, 2022
1964 Quantum IV Formula Car - Retirement project
2000 9-5lpt Sedan, sold at 318K miles
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