I finally got my taxes done last Saturday and now all I have to do is sit back and wait for my refunds to arrive. My federal refund will be $1,102 and my state refund, if I ever get it considering the sad shape California is in, will be $141 for a grand total of $1,243 which isn’t that bad. As soon as I get it I am going to deposit it in the bank so it can work hard for me earning interest. I did not claim my 2008 stock losses this time around but hopefully I will next year when I can use those losses to offset my gains.

My first year investing was a very bad one for me and a lot of people. Hey, stuff happens (and it happened big time as we all know) and crying about last year losses won’t help my future gains. I finally know the exact amount that I lost, it was quite a learning experience for me that I or my pocket won’t soon forget but that will help me become a better and smarter investor in the long run, I hope. My total losses for 2008 were only $2,217.80 not including all my sweat and tears (tears were added for pure entertainment value) and If I could put a number for those it would be $782.20 for a total of $3,000.00 which ironically is the maximum amount that you can claim as a stock loss on your taxes according to what I’ve read.

My next question for those who have claimed losses before is this, just how much of your money did you get back?, for all I know I could get all of it, some of it or just a tiny, tiny bit of it. I am just going to have to wait and see until i have my taxes done or I can use the Tax Estimator that is available at MSN Money and find out for myself if i am going to be happy or sad come tax time.