0
Can I claim a tax deduction on stock loss when redeemed through sale?
Wiki User
∙ 14y ago
A loss means that the stocks were sold for less than their basis (usually what you paid for them). You need to know what you paid for them and at what price they were sold. You also need to know whether the stocks are short-term (prior to the sale, you had them for one year or less) or long-term (more than one year). These losses are deductible and are reported on Schedule D(Capital Gains and Losses).
Wiki User
∙ 14y ago
Add your answer:
Earn +20 pts
Does treasury stock go on the balance sheet?
yes it goes under Stockholders Equity and it is a deduction to the equity account.
Can you claim a investment loss on stock for a company that went out of business even if you did not sell the stock?
Yes. If a company goes bankrupt and, especially, if its business is liquidated, you can claim the full loss on the stock in the year the event occurred.
If you sell a stock for higher than you bought what do you have to claim on you taxes?
capital gains
If I buy stock today when do I become the owner on record?
On Record you become an owner the moment the buy transaction is made in your name, provided you have enough money in your account when the deduction would happen for the purchase...
Can you revise earlier tax returns to use excess capital losses?
If you mean that you had a capital loss this year can you carry the capital loss back to a previous year, the answer is no unless you are a corporation. However, anyone except a corporation can carry a net capital loss forward to the next year after taking the mandatory up to $3000 deduction against ordinary income. Use the capital loss carryover worksheet in the next year's Schedule D instructions to learn how much you can carry over to the next year. If you mean can you revise a previous year's return to claim a capital loss you neglected to previously claim, the answer is yes. But generally, you can only claim a refund for up to three years after the original due date. This is extended to seven years for a claim resulting from worthless stock.
If you lost money on a financial institution stock can you claim it as a loss?
Yes, if you sold the stock for less than your basis or if there was an event that caused your stock to become worthless during the year. Note that this does not apply if the stock was in a tax-sheltered account such as an IRA or a 401k. If a bank went out of business causing the stock to become worthless, you can claim it as a loss. If the value of the stock went from $200 a share to $.02 a share, it is not yet worthless -- no deduction until you sell it.
Do you have to claim stock?
No. You buy stock or options. You do not claim them
How do you redeem Stone Webster stock?
Stone Webster stock can be redeemed by contracting the Securities Department of the company. They work on a commission basis for those who either want to buy or sell the stock.
Does treasury stock go on the balance sheet?
yes it goes under Stockholders Equity and it is a deduction to the equity account.
Can you claim a investment loss on stock for a company that went out of business even if you did not sell the stock?
Yes. If a company goes bankrupt and, especially, if its business is liquidated, you can claim the full loss on the stock in the year the event occurred.
I bought eBay stock and have lost 85 per cent of my investment can I claim the loss on my income tax?
Not if your still holding stock. After you sell it you can claim your profits or losses.
What is a certificate representing a claim to part of a share of stock?
Scrip
A man bought abc stock at 19.65 per share and it sold at 23.25 per share what was his profit on 80 shares before deduction for commissions and taxes?
A man bought abc stock at 19.65 per share and it sold at 23.25 per share what was his profit on 80 shares before deduction for commissions and taxes the answer is 288.00
Describe what a preferred stock is.?
A preferred stock is a stock where a public traded company or industry owns most of the stock. Preferred stocks have a claim on capital in the event of complete liquidation.
If you sell a stock higher then you bought it what do you claim on your taxes?
A capital gain.
Do you have to claim stock profits when on unemployment insurance?
If ur an MP LOL
Where can I sell my sugar stock?
Through a stock broker.
