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12
votes
2answers
1k views

If I donate depreciated stock to charity, can I deduct both the market value and the capital loss?

I have stock that's depreciated in value since I bought it. Just to make up some numbers, I paid $8000 for it, and it's worth $1000 now. If I donate the stock to charity, can I take the charitable ...
4
votes
2answers
32 views

How are Share Awards and Sales Treated?

I'm looking for a general answer on how this situation is treated for tax purposes, not how to report this situation when doing my taxes (although that would be interesting as well). The numbers ...
33
votes
15answers
9k views

I carelessly invested in a stock on a spike near the peak price. How can I salvage my investment?

I carelessly invested on stock on a spike (I have been persuaded by a family member) and now my investment value is really low, as you can see below. Is there anyway to salvage my investment for ...
0
votes
1answer
124 views

Offsetting capital losses against gains for stocks

Let us say I hold 4 stocks in a non tax sheltered account Stock A has capital gain of 10$. Stock B has capital loss of 20$. Stock C has gain of 10$ but it is intra day, hence counted as income, not ...
1
vote
1answer
30 views

When can you adjust for (and re-allow) a disallowed year-end (December) wash-sale loss?

If you sell an entire position (e.g. 100 shares in company X) at a short-term capital loss on Dec. 10th, and your broker reports an adjusted "disallowed wash-sale loss," can you: a) Re-purchase ...
-5
votes
1answer
843 views

If I take a loss when I sell my car, can I claim a capital loss deduction on my income tax return?

If I sell my car off at a loss, can I write that loss off against my income to save on tax? Does it matter if the car was used just for personal leisure use, or if I used the car to generate business ...
-4
votes
1answer
426 views

Can capital loss be applied for tax for non-consecutive years?

If I have realized a large amount of capital loss this year, can I choose which of the following years that the capital loss can apply to offset taxable income, and how much capital loss is applied ...
3
votes
2answers
2k views

Can capital loss in traditional IRA and Roth IRA be used to offset taxable income?

For traditional IRA and Roth IRA, can capital loss be used to offset taxable income for tax purpose? If not, when withdrawing from traditional IRA and Roth IRA, can the capital loss now be used to ...
7
votes
1answer
246 views

Can I apply prior years' capital losses against my employee stock option exercise?

I'm Canadian, and I executed a "same-day-buy-and-sell" on options granted to me by my employer. My T4 slip has the appropriate taxable benefit called out, but my question is, can I apply my previous ...
4
votes
1answer
296 views

Meaning of capital gain distribution

How is capital gain distribution calculated? I wonder what differences and relations are between capital gain distribution and capital gain/loss? Line 13 of IRS Form 1040 asks for capital gain and ...
2
votes
1answer
156 views

Tax consequences of short term capital losses

How do short term capital losses figure into taxable income? If someone has 50k of taxable income before considering capital gains (and losses) and a total of $2k in short-term capital losses, what ...