Posts tagged as:

capital-loss

Ask the taxgirl: New cars, tax deductions and losses

23 June 2009

Taxpayer asks:
Earlier this year, I agreed to co-sign on a loan for my adult son for a new car so that he could get to work. He made the first payment and has not made payments since. I have made all of the other payments.
I have 2 questions:
Since I really bought the car, can I [...]

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Twitter Tax Tips #15

17 March 2009

Losses aren’t taxable losses until realized (even if they suck). If no sale or other taxable event, no taxable loss. #TwitterTaxTip
(For more on twitter tax tips, see my prior explanatory post.)

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Some Straight Talk On Capital Losses

22 September 2008

As a result of the recent volatility on the stock market, I’ve received a bunch of questions about claiming losses on individual tax returns. What’s been made clear is that there are a lot of misperceptions floating about… I thought I’d try and set some things straight. To keep it simple, I’m [...]

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Ask the taxgirl: Loss Carry Forward and Divorce

23 April 2008

Taxpayer asks:
Hi–
Was wondering if you could advise on what happens if a married couple has, say, a capital loss carryover, and the couple divorces. Do they just split the carryover down the middle? Can they negotiate the amount each takes? Does the carryover amount change with a filing status change?
Taxgirl says:
Divorce and [...]

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Ask the Taxgirl: No Money, No Loss?

5 March 2007

Taxpayer asks: Hey there! I found your blog entirely through random surfing, and it’s perfect for a question I have right now.
I’ve returned to being a full-time student, after several years of working in the real world.  Last year, my income was a big, even 0. I had simply no taxable income.  The IRS seems [...]

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