Personal Finance & Money Stack Exchange
Personal Finance & Money Stack Exchange

Questions tagged [capital-loss]

A capital loss is the loss incurred when a capital asset decreases in value. This loss is not realized until the asset is sold for a price that is lower than the original purchase price.

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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 short-term? Would it be better if I sell my stocks…
John Isaiah Carmona
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I bought my first shares in life and they dropped 25% in a very short time. What to do?

I bought Coinbase stocks shortly after IPO. Now my loss at 25%, however, I am in the fortunate position of not being dependent on the invested money. I would like to know in retrospect what I and other Coinbase stock buyers did wrong. What are the…
Sybil
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How do I realize tax losses on a cryptocurrency I can't sell?

I have a bunch of dead coins that don't have any liquidity on exchanges anymore. Is there a way to sell them or report them to the feds somehow so I can harvest my tax losses? I read about a way that involved sending my coins to the 0x000.....…
DNS_Jeezus
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Are assets lost in a bankruptcy valued at the time of loss, or according to current value?

For the purposes of claiming a casualty loss in tax filings, can stocks be valued at their current par or is their value only what it was at the time of the loss? My situation is that I have stock that was held by company that went bankrupt due to…
Five Bagger
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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 deduction (if I itemize) of $1000 and the capital…
Michael A
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What's the point of the wash rule?

I don't understand the 30-day wash-rule. Someone please set me straight. So let's say I purchase 100 shares of Hot Stock X, for $100 apiece. So $10,000. Let's say that the stock goes down 50% on a really bad day in the market. Let's say furthermore…
CodeOwl
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How do I get rid of worthless penny stocks if there is no volume (so market/limit orders don't work) and my broker won't buy them from me?

Short summary I bought some shares in a penny stock a few years ago, but now they don't trade and are worth $0.0001 per share. I want to get rid of them, but a) market orders don't work because the shares have no volume, b) limit orders don't work…
Henry
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Tax treatment of losses from investment trust going bankrupt

I had some funds held in trust by a financial company. Due to malfeasance customer funds went missing and the company went bankrupt. The bankruptcy is going through its course and it looks like the creditors such as myself will get back some…
Five Bagger
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How to deduct a loss from an investment that went bankrupt?

We had money in a BlockFi account, which went bankrupt at the end of 2022. How can we deduct that loss on our 2022 tax return?
jamaicanworm
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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 year's capital losses to this "gain" to reduce…
Fred
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Does loss in stock market count against standard/itemized deduction?

I read some articles on the internet but I am still confused. None of the articles seem to give me an answer that I am able to understand. As far as I understand, I can either apply the Standard Deduction ($6500 as a single person for 2018) or the…
rgamber
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Can I claim a tax loss for Crypto blockchain shutdown?

Short version is that I bought crypto by way of trading BTC/ETH into the coin of discussion and the blockchain of that coin was shutdown. I can't access the balance in my wallet (and never will). Can I claim this as a loss on my taxes? Additionally,…
Jeremy
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Do I get a tax credit for my dependent’s short term capital loss?

My father is not working and is my dependent. I have him $5,000 cash as a gift in 2020. He “invested” it in stock market (bought an option for something), and lost it all. If he had any income, then he would have got the tax credit. Unfortunately,…
user105240
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Are wash sale rules different for stocks and ETFs / Mutual Funds?

In this answer to this question, JoeTaxpayer writes: To take the loss this year, he'd have to sell soon, and can't buy it back for 30 days. If, for whatever reason, the stock comes back a bit, he's going to buy in higher. To be clear, the story…
Amazon Dies In Darkness
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Can $3000 of already existing capital losses be used in next year instead of current year?

Let's say for someone who has modest ordinary income this year, but next year expects significantly more income - is it possible to defer usage of capital loss to the next year? Or, is this person required to use all $3000 of capital loss in current…
user4910112
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