Capital Loss for Stock in Bankrupt Company
This is a discussion on Capital Loss for Stock in Bankrupt Company within the Tax Issues forum, part of the BUSINESS & FINANCE LAW category; Current Expat in Germany, but list MI as state of residence. Do not own home there any longer. Question: Other ...
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Mar 5th, 2009, 08:39 AM
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Capital Loss for Stock in Bankrupt Company
Current Expat in Germany, but list MI as state of residence. Do not own home there any longer. Question: Other than the $3000 limit per year of Cap loss to claim, is there any other recovery method for a substantial loss in one year due to stock owned in a company that files Chapter 11? Stock purchased at at $2.02, down to $.48, and assumed to go to zero when file Chapter 11? Does it make a differnce if the company files Chapter 7?
Am familiar with with hierarchy of debtors in Bankruptcy, but wanting to know what we can do, if at all, to recoup a substantial loss via taxes or any other means. |
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