Diane Posted April 12, 2010 Report Share Posted April 12, 2010 I have a client with GM stock. Can he write off the stock? Diane Quote Link to comment Share on other sites More sharing options...
JRS Posted April 12, 2010 Report Share Posted April 12, 2010 I have a client with GM stock. Can he write off the stock? Diane There are many views on writing off GM stock. You will need to research. Some CPAs say yes and others, like the link below say no because, theoretically, the "old GM" is still trading. http://www.autoobserver.com/2010/01/its-a-puzzlement-old-gms-worthless-shares-still-trading.html Quote Link to comment Share on other sites More sharing options...
jklcpa Posted April 12, 2010 Report Share Posted April 12, 2010 It is still trading and not totally worthless. I told my client to sell the shares and get the small amount of proceeds. The loss still ended up on sch D, net of the of proceeds. Quote Link to comment Share on other sites More sharing options...
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