Ask Terry Questions Managed Fund

Managed Fund

By Terry Savage on April 25, 2023 | Investments

I am 60 years old. I have a managed fund, inherited, that has lost money and has fees associated with it.
What is the best way to get out of this and reinvest it for retirement.

Terry Says

Just call your broker and tell him/her to sell it. If you have a loss, you can offset $3,000 in ordinary income for tax purposes, in the year you sell it. If the loss is larger, you can “carry it forward” to use in subsequent years.

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