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To: William H Huebl who wrote (29383)10/13/2008 6:07:09 PM
From: Ish  Read Replies (1) of 34894
 
A little thing has popped into my head about the sell off. Unless the market pops back quickly owners of mutual funds that reinvest the dividends will be screwed. Double taxes.

Ok, you have a mutual fund and reinvest the dividends and it was worth $50k Dec. 31. Now it's worth $30k. Will you get a 1099 saying you lost $20K? Don't bet your ass on that. You don't sell it, you don't get the deduction. And you can only deduct $3k a year.

Now the kicker. Next year you get a dividend of $2k. Will you get a 1099 that you made $2k. Now that you can bet your ass on. You paid taxes on the money you invested and lost and now are paying taxes on the money that is repaying the loss.
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