Larry Israel <VSLARRY[at]weizmann.weizmann.ac.il> wrote:

- quote -

If the loss has been taken, the settlement is added as
Schedule D income, either long or short term corresponding
to the loss you claimed.

I have been entering this on Sch D as WorldCom Settlement -
Additional Gain: $xxx

__
Art Kamlet ArtKamlet [at] AOL.com Columbus OH K2PZH

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How is a payment for settlement of WorldCom claims to be
handled as far as US income tax is concerned? The original
investment was sold at a loss in previous years, and a
capital loss taken.

I can see either refiling the the tax return of a few years
ago, or else calling it a capital gain in the current year.
Is either one of those options correct?

<< ================================================== ===== > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >