How do I file for my tax return if I put money in the stock market?
（I currently some unrealized losses, and I believe by last April when it was tax time, I had pretty much broke even in terms of realized gains and losses, and had all the money back in the market.
Rather than paying an accountant, how could I file for my tax return myself, what special forms would I need if I have money in the stock market?)
Answer:
You really don’t have a loss then until it is realized. If you sold the holdings in the middle of the year and had a capital loss, then you can deduct this on your taxes (I would recommend itemizing $3000 per year and you can prorate this over the next several years until it is all itemized). If you did not sell though, you can’t deduct anything.
Posted: July 29th, 2010 under US Stock Market.
Tags: Stock market