Capital Loss Carryovers Can Cut Your Tax Bill for Years
That means that if you bought a stock last November or December that has lost a lot of money, you should strongly consider selling it now rather than later, before your losses get treated as long-term. Coal stocks are a prime example, with Alpha Natural Resources (NYSE: ANR), Peabody Energy (NYSE: BTU), and CONSOL Energy (NYSE: CNX) all having posted losses of 25% to 75% since late 2011 due to weak coal demand stemming from low natural gas prices and slowing economic growth in coal-hungry markets like China. Solar stocks have been under similar pressure, with First Solar (Nasdaq: FSLR) and SunPower (Nasdaq: SPWR) among the many companies in the industry that have seen major share declines due to big losses and a glut of products.
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