QUESTION
I bought a stock in March 2015. It filed for Chapter 11. Is it possible to hold onto my shares until next March to claim it as a long term loss?
Asked on Oct 05th, 2015 on Taxation - New Jersey
1 ANSWER
Criminal Defense Attorney serving Toms River, NJ
at
Edward J. Dimon
Update Your Profile
chapter 11 is difficult because the company is restructuring and you cannot define the loss at this moment. chapter 7 is easier because compnay is going out of business and the loss can be defined. we have a tax attorney and cpa here at the firm to help with these issies. ed dimon 732-797-1600
Answered on Oct 05th, 2015 at 8:21 AM