If stock you own is worth say 30,000 but you don't sell and notice it is going down but you hope it will go back up and keep it, then it starts going down and after you see it fall to say maybe 10,000 and then you decide its not going to go back up and you sell is that considered a loss on your taxes can you count it as a loss on your taxes.

Answers

Answer 1
Answer:

Answer:

YES

Explanation:

If a stock you own is worth say $30,000 and you eventually sell it for $10,000, that is considered a loss on your taxes and you can count it as a loss on your taxes.

The situation given in the scenario is obviously that of capital erosion or capital loss.

Just like it would have been counted as capital gains if you had made a profit on the sale of the shares which would have been taxable, so also is it possible to make tax deductions on your returns when you make capital losses.

Hence, the loss amount can be deducted (offset) from other capital gains or ordinary income in your tax return.


Related Questions

Of the big five personality factors, which is the most strongly associated with leadership
Both an increase in _____ and an increase in _____ can contribute to economic growth by increasing the Gross Domestic Product. imports, population debt, imports exports, government expenses?
The primary financial goal of a corporation is shareholder wealth maximization, which involves maximizing the long-run value of the firm's stock and requires taking a long-run view of a firm's operations. To achieve their financial goals, firms must develop products that consumers want, produce the products efficiently, sell them at prices, and observe laws relating to corporate behavior.a. Apart from their financial goals, companies also focus on a wide number of non-financial goals including maximizing the welfare of their employees, efficiently and fairly serving their customers, and respecting their local community and environment.Select the statement that best completes the following statement: Most managers recognize that being socially responsible is important and generally (but not always consistent) with achieving their financial goals.b. As a result of financial scandals during the past decade, there has been a strong push to improve business ethics. Managers have an obligation to behave ethically, and they must follow the laws and other society-imposed constraints. Most managers recognize that being ethical is consistent with the corporation's primary goal.c. A stock's intrinsic value is an estimate of a stock's "true" value based on accurate risk and return data. It can be estimated but not measured precisely. When a stock's actual market price is equal to its intrinsic value, the stock is in equilibrium. The marginal investor's views determine a firm's actual stock price.
The profit motive is important to a market economy because it
All of the following are economic institutions EXCEPTa. churches. b. government services. c. credit unions. d. commercial banks.

Edgar received a text message from Groupon this morning, letting him know about an opportunity to take a series of five horseback riding lessons at a nearby stable for $199, a value of $400. Edgar has always wanted to try horseback riding, so he bought the Groupon. The Groupon first affected Edgar in the ________ stage, as the Groupon highlighted the difference between his ideal and actual states.a. problem identificationb. information search
c. alternative evaluation
d. post-purchase behavior

Answers

Answer:

a. Problem identification

Explanation:

In the Problem Identification and solution alternatives stage, analyze the current situation, create a vision of the desired situation and select the strategies that will be implemented to achieve it.

A client has obtained Plan B (levonorgestrel 0.75 mg, 2 tablets) as emergency contraception. After unprotected intercourse, the client calls the clinic to ask questions about taking the contraceptives, The nurse realizes the client needs further explanation when she makes which of the following responses? a. "I can wait 3 to 4 days after intercourse to start taking these to prevent pregnancy."
b. "My boyfriend can buy Plan B from the pharmacy if he is over 18-years-old."
c. "The birth control works by preventing ovulation or fertilization of the egg."
d. "I may feel nauseated or have breast tenderness or a headache after using the contraceptive."

Answers

Answer:

a.

Explanation:

The response " I can wait 3 to 4 days after intercourse to start taking these to prevent pregnancy." would indicate the need for further explanation. This is because Plan B is a  series of contraceptive pills, which are most effective if taken immediately after unprotected intercourse and then again 12 hours later. Waiting 3-4 days would be the wrong method of using the pills.

Joaquin has $1,300 in the bank and has investments worth $4,000. He also has $7,000 worth of credit card debt. What is the total value of Joaquin's assets

Answers

Assets = Liabilities + Owner's Equity
$12,300 = $7,000  + 5300
 
Assets
                  Cash in bank                                   1,300
                  Account Receivable/investment      4000
                  Account Payable/credit card debt    7000
Total Assets                                                                         12,300

Which feature is characteristic of a market economy?A) Government provides basic goods.

B) Self-interest motivates buyers.

C) People have less economic freedom.

D) People have no property rights

Answers

The answer is B.

The 5 characteristics of a market economy are ability to own private property, freedom of economic choice, motivation by self interest, competition and limited government intervention. A sounds more socialist, as that would imply the government supplies the people with goods such as food, instead of leaving it to private enterprise.

Hope this helps.

Characteristic of a market economy is self-interest motivates buyers.  

Further explanation

A Market economy is an economic system regulated by supply and demand, not the government. Most of the resources, equipment, buildings, goods, and services in a market economy own by individual and private business. Most economic decisions are made by buyers and sellers, not the government.

Characteristics of market economy are:  

  1. Private ownership: Most of the resources, goods, and services are owned by individual or private sectors.  
  2. Freedom of choice and free enterprise: Entrepreneurs have the freedom to get and use their resources. Consumers are free to buy goods and services to fill their need.  
  3. The motive of self-interest: Entrepreneurs try to get the highest profits for their businesses. On the other hand, consumers try to get the greatest benefits from their budgets.
  4. Competition: competition ensures greater quality and lower prices for consumers .
  5. A system of markets and prices  

Another type of economic system is a market economy, traditional economy, and a mixed economic system. Nowadays, many command economies began adding aspects of the market economy, we call it a mixed economic system.

Learn more

The goal of the command economy brainly.com/question/1362251

Characteristic of a command economy brainly.com/question/2065265

The function of the economic system brainly.com/question/12060180

Keywords: command economy, central government, characteristic of a command economy, economic system

Steve Burton recently sold the bookstore he inherited from his mother because his income had fallen three years in a row. The new owner installed a coffee machine, redecorated the children's corner, chats with her customers, and remembers their preferences. She reports a 43 percent increase in sales over Steve's last year. The change is most likely due to A. more advertising.
B. beginner's luck.
C. the owner's personality.
D. a general upswing in the retail book business.

Answers

The answer is going to be C, because the owner was more friendly with her customers, which made them want to come back.
C, if a store is more updated for children the parents will like the place more, everyone likes free stuff such as coffee, for examples thiesens gives away free popcorn to attract customers, and chatting with customers and remembering what that need makes them fee much more important and want to come back again.

iTicket, an online event-ticketing site, recently discovered that most of its good seats for a widely anticipated concert were preemptively booked in bulk by brokers. This resulted in a shortage of tickets that the public could have bought themselves. Which of the following would have best helped the brokers to book tickets in such large numbers?

Answers

Answer:

bots

Explanation:

A bot is an application which simulates an individual's interaction with other users or systems. They are usually able to perform simple and repetitive tasks in large quantitative which would be very improbable for a human to perform, e.g. they can spend several days in social media applications.

In this case, brokers probably used bots to purchase tickets by making several small purchases.

Other Questions