How to Declare Capital Loss?

[Chrono]

Hey Guys,

At what price does the stock pricing have to be at in order to declare capital loss on your deductions? Let's say you bought 1000 shares at 50.00 and if it goes under, let's say 49.99 and you sell it, can you then declare capital loss or does it have to be a certain % of what you bought the stock initially?

 

[SunnyD]

Yelling I DECLARE CAPITAL LOSS sounds like it would work for me.

 

[spidey07]

Any loss up to 3000 dollars can be deducted. You have to have realized this lost, meaning you sold and actually lost capital.

Stock price or percentage has nothing to do with it, it's the amount of the loss that is the limit for deducting. I "think" it's still 3000 dollars.

 

[TuxDave]

There's no minimum, just a maximum. But if you exceed that maximum it doesn't mean it's all gone, it just rolls over to the next year until it's all declared I believe.

 

[CPA]

Originally posted by: TuxDave
There's no minimum, just a maximum. But if you exceed that maximum it doesn't mean it's all gone, it just rolls over to the next year until it's all declared I believe.

correct.

 

[axelfox]

Originally posted by: SunnyD
Yelling I DECLARE CAPITAL LOSS sounds like it would work for me.

Oscar: Hey; I just wanted you to know that you can't just say bankruptcy and expect anything to happen.
Michael Scott: I didn't say it, I declared it.

🙂

 

[ViviTheMage]

Originally posted by: axelfox

Originally posted by: SunnyD
Yelling I DECLARE CAPITAL LOSS sounds like it would work for me.

Oscar: Hey; I just wanted you to know that you can't just say bankruptcy and expect anything to happen.
Michael Scott: I didn't say it, I declared it.

🙂

:thumbsup: