by Paula Kennedy, EA | Mar 9, 2023 | Blog, Tax, Uncategorized
Have you bought stock in a company that later dropped in value? While you may prefer to forget such an ill-fated investment, at least you can claim a capital loss deduction on your tax return. Here are the rules that apply when a stock you own is sold at a loss or...
by Paula Kennedy, EA | Dec 19, 2022 | Blog, Tax, Uncategorized
If you’re thinking about selling stock shares at a loss to offset gains that you’ve realized during 2022, it’s important to watch out for the “wash sale” rule. The loss could be disallowed under this rule: if you sell stock or securities for a loss and buy...
by Megan Kosciolek, EA, MST | Dec 15, 2021 | Tax
Year-end is a good time to plan to save taxes by carefully structuring your capital gains and losses. Consider some possibilities if you have losses on certain investments to date. For example, suppose you lost money this year on some stock and have other stock that...
by Brian Hare, CPA, CGMA | Dec 1, 2020 | Tax
Are you thinking about selling stock shares at a loss to offset gains that you’ve realized during 2020? If so, it’s important not to run afoul of the “wash sale” rule. IRS may disallow the loss Under this rule, if you sell stock or securities for a loss and buy...
