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By: Jesse

Question: Worked for Citigroup, had mostly common stock where I had a huge loss (obviously. Wondering if I could use the Long term loss of $3000.00 considering I finally just cashed it out after...

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By: thunderthighs

Thank you for highlighting capital gains/losses…I’ve been into stocks for a few years but this is still an area where I feel lost!

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By: Monica

I couldn’t find the buy transaction statement and it was not on file with the brokerage. I low balled the estimate of loss (400) but now have found my statement. Could I claim the remaining 2000 on...

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By: Jim

I’m not a tax expert but I believe you would have to amend your previous return.

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By: Monica

yes, I have to amend as per the IRS guy on the phone. Thanks for your quick reply though!

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By: Bo

If I want to carry over a stock transaction that yielded a loss in 2010, do I need to enter that stock transaction in Schedule D of 2010 return? Or can I wait until I file 2011 to file it?

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By: Tam

Question is, can you carryover all of your long term losses to future years when taxes are higher and the 20% LT cap gain limit goes away? I’d rather pay the 20% on gain now if I think that cap gains...

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By: bob

i purchase stock on 2010 and i never sold it. on December 2011 the stock went reverse split to 1 to 300. i still have few dollar left…. do i have to report my losses even though i did not sell any yet.

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By: Jim

You haven’t lost anything yet, a reverse split means the price might be lower but you still own the same amount in terms of total dollar value. The stock price might have fallen since then though, but...

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By: Timothy

What if the stock experiences a series of reverse splits completely wiping out all shares that you once owned? An initial split left me with 435,000 shares. After the 2nd RS I was left with 435 shares,...

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By: Jim

On that last split, the company would’ve paid you out cash for the fractional shares, I’d ask ETrade about it.

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By: Timothy

As a result of the 3rd RS, the value of the share was still less than a penny, so no cash was paid out. Looking into it further, according to publications on the IRS website, the word WORTHLESS can be...

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By: David

I believe that this information is incorrect. While the price per share must be adjusted (in case of a sale of less than all of the shares after the split, whether forward or reverse), the cost basis...

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By: Wen

Hi I had some 10K capital loss 2010 but I didn’t report them in my 2010 tax return. Now I am filing my 2011 tax return, and I want to use the capital loss from 2010 to reduce my taxable income....

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By: Erol

Hi. I have a loss of $5000 in 2006 due to a stock becoming worthless. Two months ago I filed an amended return for 2006 for the maximum $3000 deduction. To get the remaining $2000 deduction I filed...

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