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Pastimes : Gripes, compliments, fishing and weather
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To: William H Huebl who wrote (29355)10/11/2008 3:57:34 PM
From: Ish  Read Replies (2) of 34894
 
I have a friend who took his pension in a lump and put it all into dividend paying mutual funds. Now he's not going to get a 1099 saying he lost $150k in the crash but he will get a 1099 showing his dividend income. Plus the only time he gets to deduct his loss is when he sells the mutual funds and only at a rate of $3,000 a year. OUCH.
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