Summary
One of the many spectacular failures of 2009 was General Motors. Unbelievably, GM went from one of the most important companies and stocks in the nation to a penny stock. GM got a bailout, but its shareholders didn't.
With tax time at hand, you may be wondering if you can write off your GM losses on your 2009 income tax return.See the full content of this document
Extract
Can You Deduct a Loss for Your Worthless Gm Stock?
If your GM stock is worthless, can you take a loss for a worthless security? In short, the answer is no. You have to sell it in order to recognize a loss. Sell it, you say? But it's worthless. Isn't it?
T...See the full content of this document
Sponsored links
