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A Down Stock Market Offers Tasty Tax Breaks
Selling investments at a loss generates tax breaks during a recovery.
 
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Posted 9:39 PM EST November 12, 2008
Posted by: gwalt0771
Question : I own stock in a company which has filed for Chapter 11 but has acted like Chapter 7 because they have sold the assets to pay off notes from their largest creditor. The stock has been delisted and has only one employee left - to clean up the mess, and the stock on the pink sheet is valued at $.01/share. Can I declare a total loss on my 2008 tax return for this loser?
Posted 7:04 PM EST October 30, 2008
Posted by: jim442
Bill-you forget one other benefit-for those of us doing RMD-required minimum distribution from IRA-it allows us to withdraw less,reducing taxes owed!
thanks Jim
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