Discuss the tax consequences of stock on tax returns, Taxation

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Discuss the tax consequences of stock on tax returns

Worthless Securities

Response to the following problem:

On July 17, 2013, Martina paid $15,000 for 4,500 shares of stock in ABC corporation. On December 29, 2013, the stock was trading for $.03 a share. On January 6, 2014 Martina's stockbroker let her know that the stock was worthless. Discuss the tax consequences of the ABC stock on Martina's 2013 and 2014 tax returns.

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Taxation: Discuss the tax consequences of stock on tax returns

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Taxation: Discuss the tax consequences of stock on tax returns

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