Stock loss value - tax credit question

araft · Mar 30th, 2009, 02:26 AM

Hi all,

I have a little unusual question:

On 2000 I opened a US brokerage account as a foreigner.

On 2003 I moved to the US, got my social security number and filled my first tax return.

Before 2003, I purchased a few stocks and I have never sold them. The stocks value have declined and I am wondering if I can sell them now and get the tax credit.

Would the stock sale be considered a tax loss?
If yes, would the loss be calculated by the purchase time (before 2003)?
Would it be calculated by the stock price on the day I got my SSN?

Thank you for your help!

annjd · Mar 30th, 2009, 11:17 AM

Hi--they normally do not give tax advice on this site; you may check with the IRS directly; or your accountant; or the H & R Block web site for 20 dollars: HR Block Tax Advisor link --

Taxes Online & E-file - Ask A Tax Advisor - H&R Block

Mar 30th, 2009, 02:26 AM	#1
araft Junior Member Join Date: Mar 2009 Posts: 1	Stock loss value - tax credit question Hi all, I have a little unusual question: On 2000 I opened a US brokerage account as a foreigner. On 2003 I moved to the US, got my social security number and filled my first tax return. Before 2003, I purchased a few stocks and I have never sold them. The stocks value have declined and I am wondering if I can sell them now and get the tax credit. Would the stock sale be considered a tax loss? If yes, would the loss be calculated by the purchase time (before 2003)? Would it be calculated by the stock price on the day I got my SSN? Thank you for your help!

Mar 30th, 2009, 11:17 AM	#2
annjd Top Level Member Join Date: May 2007 Posts: 872	Re: Stock loss value - tax credit question Hi--they normally do not give tax advice on this site; you may check with the IRS directly; or your accountant; or the H & R Block web site for 20 dollars: HR Block Tax Advisor link -- Taxes Online & E-file - Ask A Tax Advisor - H&R Block

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