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2
votes
1answer
61 views

Is there any guarantee that index ETF will follow reference index?

As I understand: index ETF attempts to track value of some specific index. It may be done by either really buying index (physical ETF) or by creating some arcane financial instrument that is supposed ...
3
votes
1answer
51 views

Same day Roth IRA conversion but lost some money -> How do I list that on my taxes?

I contributed in March 2016 for my 2015 Traditional IRA and then a day later I converted that 2015 IRA into a backdoor 2015 Roth IRA but lost some money in the day I waited to convert. I'm about to do ...
1
vote
1answer
45 views

Business Investment Loss from prior year

In 2011, I invested $30,000 into a restaurant. I was a passive investor. I wrote a personal check from my account to the business entity. A year later, the restaurant closed and all my money was ...
-1
votes
1answer
96 views

If I had no income due to a net operating loss, will I be refunded the Social Security and Medicare taxes withheld?

I spoke to a CPA about my 2015 tax situation. I had a job in 2015, but I also had stock trading losses that exceeded the salary that I received from the job. The CPA said that I traded enough that ...
0
votes
0answers
19 views

Tax Treatment of Bad Shareholder Loans To S Corp

We just dissolved a 3 partner S-corp. There is COD income from cancelled shareholder loans to the company. This COD income will be transmitted to the shareholders on the K-1s. My question is how the ...
1
vote
0answers
133 views

How do you calculate your “alternative tax net operating loss”?

In 2013 I had gains from trading futures (Section 1256 contracts) and then in 2014 I had losses trading futures. A few months ago I amended my 2013 tax return to claim a refund via a futures loss ...
3
votes
1answer
107 views

Loan to S-Corp cannot be paid back, how to deduct from personal taxes?

I gave a $15,000 loan to an S-corp where I have a 10% stake. The K1 I got this year only allows me an ordinary loss of $600. However, I know that this business will soon be shut down without the ...
0
votes
1answer
70 views

Do I need to file schedule C if I had a net loss?

I ran a business in 2015 (sole proprietorship) that had a net loss, and I have discontinued that business. Do I need to file a schedule C for it, assuming I do not want/need to offset other earnings ...
3
votes
1answer
231 views

What is down -34% in stock terms?

Apple is now at 100.54, all time high is 134.54, #AAPL is now down -34%. I fail to comprehend the above sentence. The way I usually interpret it, say if a stock all time high is 100, it is down 30%, ...
4
votes
1answer
75 views

Is capturing a loss a unique opportunity?

Upon the advice of a financial planner at a large financial management firm, a friend bought an individual stock, Apache, as part of their portfolio. That stock has since lost over 50% of its value. ...
2
votes
1answer
30 views

When amending a tax return to include a futures loss carry back, are you not allowed to include a Schedule C?

In 2013, I had profits from trading futures contracts, and that profit was reported on Form 6781 of my 2013 tax return. In 2014, I had losses from trading futures contracts. My CPA is amending my ...
1
vote
1answer
120 views

When filing for an NOL, do you have to file the amended previous years' returns after the NOL return?

I have been doing a lot of day trading the last few years. In 2013 I made a lot of money (tens of thousands in profits), but in 2014 I did poorly and lost tens of thousands. My CPA said that due to ...
0
votes
1answer
105 views

If I make a loss in trading stocks, can I state it as a loss of investment in the tax refunds?

I was wondering if I could turn around my losses (a little bit) to help with my tax refunds. If I have negative total profit from trading stocks/investments, will it help increase my tax refunds? ...
2
votes
1answer
109 views

At what point do recurring small business losses become a problem with Canada Revenue Agency?

How many times can a small business owner claim an overall yearly loss, when filing income taxes, before the Canadian Revenue Agency (CRA) will consider it a problem? A friend who runs her own small ...
5
votes
1answer
205 views

Foreign currency losing value — can I report this as a loss for tax purposes?

I live in the U.S., and I have a savings bank account in Ukraine. The money on that account were in UAH (Ukrainian Hryvnia), which lost ~50% of its value during 2014. This means the amount on my ...
1
vote
1answer
123 views

Should I write off my time invested in developing a business [duplicate]

Last year was my first year in business. I spent a good chuck of time developing my business plan, designing the company website, and developing policies and procedures for my employees. I'm about ...
2
votes
1answer
149 views

How to safely exit a falling security?

Imagine you have purchased a stock at precisely the wrong moment. The instant you have purchased shares, it begins to drop. It seems like there can be strategies for exiting the position without ...
3
votes
1answer
389 views

Interpreting mutual fund performance: “Earnings” vs. gains/losses?

I have a 401K at Vanguard through my company, and I was browsing the 'performance' of my fund. I found where it breaks down my transactions, gains/loss, earnings, and overall change. I'm guessing ...
40
votes
18answers
12k 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 ...
3
votes
1answer
426 views

How do NOLs (Net Operating Losses) affect an investment decision?

[A company trading on the NYSE for $1.85/share] just had a conference call... They have... cash equivalents of $2.27/share. They have more than $1/share in NOLs. NOL, I guess, is Net ...
4
votes
2answers
375 views

Rolled over husband's 401(k) to IRA after his death. Can I deduct a loss since?

When I rolled over my husband's 401(k) into an IRA after his death, the beginning balance was 100,000.00 and now the balance is around 10,000.00 If I sell the IRA, can I deduct the loss on my taxes?
4
votes
1answer
82 views

How do I take a loss on an IRA I converted to a Roth IRA?

Can I take a loss on conversion? If so, how do I do so (i.e. what U.S. tax form do I use)?
4
votes
1answer
71 views

Calculating loss for future money flows

I signed a contract w/ a company that would pay me various amounts of various dates (example: $200 on 5 Dec 2010, $150 on 12 Dec 2010, $750 on 23 Dec 2010, etc). They breached this contract, but I ...
5
votes
2answers
2k views

Should I wait to sell a stock (at a loss) that I have held for less than a year?

I currently hold some shares of a stock that I don't expect to regain much value. I bought this (at a higher price) about 8 months ago. My limited understanding of the way capital gains taxes work ...
10
votes
4answers
736 views

Most common types of financial scams an individual investor should beware of?

We've probably all heard of the Ponzi Scheme, made famous first by Charles Ponzi and more recently by Bernie Madoff: In March 2009, Madoff pleaded guilty to 11 felonies and admitted to turning ...
11
votes
3answers
612 views

How can I minimize losses on an upside down mortgage for a condo I no longer live in?

I have made a good faith effort to keep up my mortgage payments on a condo that I no longer live in since Oct 2005. In 2005 I had to move out of state for my job and I listed the property for about ...