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#1
11-28-2008, 01:41 AM
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 Re: writing off worthless stock On Nov 27, 8:22*pm, jhhtexas <jhhte...[at]ieee.org> wrote: - quote - > My wife owned a lot of WAMU stock which became worthless in 2008 when
WAMUQ (Washington Mutual Inc) closed at $0.0465 yesterday (Nov 27th).> they went under. How do we write off the stock on Schedule D since she > didn't really sell it? Therefore it is not worthless. Therefore the only way to recognize the loss is to really sell the stock to an unrelated party. -- << ------------------------------------------------------- > << 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 (2007) - All rights reserved. > << ------------------------------------------------------- > |
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11-28-2008, 01:33 AM
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| Re: writing off worthless stock jhhtexas wrote: - quote - > My wife owned a lot of WAMU stock which became worthless in 2008 when > they went under. How do we write off the stock on Schedule D since she > didn't really sell it? What *did* she really do with it? -Mark Bole -- << ------------------------------------------------------- > << 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 (2007) - All rights reserved. > << ------------------------------------------------------- > |
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#-1
11-28-2008, 12:22 AM
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| writing off worthless stock My wife owned a lot of WAMU stock which became worthless in 2008 when they went under. How do we write off the stock on Schedule D since she didn't really sell it? -- << ------------------------------------------------------- > << 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 (2007) - All rights reserved. > << ------------------------------------------------------- > |
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| stock, worthless, writing |
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