Posts tagged as:

capital-loss

A Loss By Any Other Name Isn’t the Same: All About Capital Losses (And Gains)

8 August 2011

That horrible crash you heard today? It was the market. And it was not pretty. The Dow fell 630 points today, marking the worst day for investors in three years. As a result, you can’t swing a cat without some kind of market analysis. Except here. Between you and I, I don’t know enough about [...]

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What the Heck is Basis, Anyway?

20 July 2010

Last week, I committed a terrible tax blogging sin: I used jargon. I try not to use jargon on my blog. I find it annoying, for one, because who wants to actually sound like a tax attorney (no offense to my esteemed colleagues). But more importantly, what’s the point of reading a blog that you [...]

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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 [...]

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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 going to focus [...]

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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 [...]

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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 [...]

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