Twitter Tax Tips #15
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
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 & Divorce
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?
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…
